All Forum Posts by: Carlos M.

Hello Everyone,

Currently I am looking to refinance an Investment property I own. The question I have is should I borrow through the LLC or borrow through my personal credit?

The reason why I ask is because I have done both in the past and I feel that when borrowing under your personal name the banks tends to offer better loan products in terms of interest rates, amortization, and points. However on the flip side borrowing personally directly impacts your credit score whereas having the loan under an LLC keeps the loan from impacting your personal credit score which helps keep you more attractive as a borrower. Additionally, when borrowing funds through an LLC it seems like the banks make the process a lot more difficult and scrutinizes everything from articles of incorporations, to leases agreements, tax returns, k1's etc.

Any experience or advice in regards to this matter is truly appreciated – THANKS EVERYONE!

Josh,

Congrats on all of your current real estate success. Welcome to BP. Also looking to network so if you have any questions shoot away I maybe able to help. As for your lots are they in the port Richmond areas as well.

Hi Fred,

glad to bump into another philadelphian. what kind of wholesale properties do you usually have? Also I'm part owner of a Kitchen and Bathroom company. If you no anyone who may be interested in products and/or services please let me know.

Carlos

Hey John,

Happy late 4th! Thank for the welcome! As for my activity I'm hoping to go full time in the next few years. I'm sure by that time you'll have an established real estate empire - if you haven't already.

Hey Susan,

Thanks you ... good luck on your future ventures as well.

Carlos

Hi Frank

I'm also a philly investor looking to network with other investors. Welcome to BP.

Hey Nicole,

Great to hear about your current success as an investor - good job! How is your current flip in bridesburg coming along? I am familiar with the area a good friend of mines built the Beaty Ross estates.

I'm always up for networking as well. Would you be interested in meeting up sometime?

Hey Mary,

Thanks!

Hey Kasier,

Where in North Philly is your investment and how much renovation is much needed?

Hey Steuart,

I figured most people would be down the parkway but good to know that there are some philly investors on BP. As for my time in I purchased my first rental at 20 years old while still in school. Figured investing would be a part time thing and still is but I've taking things a lot more serious in the last 2 years. I have investments in fishtown, norlibs, TU, and the northeast.

How about you when do you plan on taking the leap? I know all about the pitfalls and hold ups that you encounter as a young investor. So if I can help you out along the way let me know.