All Forum Posts by: Brandon Thomas

@Frank Geiger

No business line of credit just yet. I do have my business credit card though. I started kind of late in real estate and I missed out on the fha loan. Wish I would’ve known about it before purchasing our house. I’m currently living in a house with a conventional loan. Honestly, I’m not real sure of the fha loan rules and regulations.

But to answer your question, no I don’t have the means for repairs right now. I do however always include a repair % in my breakdown from the rental income. I haven’t seen it in person just yet, but my realtor has and told me it’s mainly cosmetic work that needs to be done. The down payment is the real issue. I may look for some hard money.

Help!! Found two amazing duplexes for sale. 170k each. Built in 2014, with high occupancy because of good school district and growing area. And bonus...no repairs needed. The problem is I’ve purchased two properties this year already. And our savings is low (10k), but it’s steadily growing back for next year’s purchase. I wonder if there’s anyway I could manage taking on these sister duplexes...or would I be stretching myself too thin?

Any advice would be appreciated. Thanks.

@Ike Stephens @Ryan Murphy

Thanks guys I appreciate it. I saw it and looked into it a little, but wasn’t quite sure about. Sounds like I’ll stay clear. Thanks again

What are some investment loan pros and cons vs. other loan types.

Also, how many times can you use a FHA/USDA loan?

I’ve recently stumbled across SoFi in an article I was reading today. And now I see a commercial about them while watching the nba playoffs. I guess my question is: Has anyone used them for financing before? If so, how did it work out for you?

Hey @Jonathan Anderson could you send me the link for the Facebook group?

@Elliott Pomposelli

Yes, Piggy backing off what @Lien Vuong said, it's a pretty simple process. Find a real estate attorney and they can walk you through the process of deeding the property over from personal to your LLC. It's as simple as signing a few documents.

@James Alex have you thought going multi family first? Duplex, maybe a triplex? That way you could charge more for the rent while living in one unit and live basically free and clear with other people paying your mortgage on the property.

I just read in a blog somewhere that one downside to trying to finance properties through a LLC is that lenders don't seem to lend to them. I've always purchased rental properties in my personal then transferred them to my LLC. I'm currently working on my business's Credit to hopefully start purchasing through my LLC. I guess my question is: Has anyone had any problems with this? If so, what did you do?

@Chris Salerno Upstate South Carolina here! I’m still some what of a newbie, but I have recently started to look into multi family investments.