All Forum Posts by: Christopher Chen

Hi @Brian Boyd,

Thanks for the advice that makes a lot of sense. Is this something that should be done with the help of an attorney and if so, do you know how much something like this usually runs? 

Best,
Chris

Hi Everyone,

I'm partnering up with a friend (@Thien Tran) to go in on some commercial real estate deals. We were thinking of forming an LLC for our deals but wasn't sure if that was the right path. We also weren't sure how banks would view that if this was a brand new LLC and we wanted to get financing for our deals.

Does anyone else have experience with this or any lawyers out there who have some advice when it comes to this stuff?

If we were gonna do a cash deal we were thinking that we could both cosign the deal and put in half half with some sort of partnership agreement, then sign our halves over to the LLC and so there would be some sort of history with our LLC when it came time to refinance the property.

Does that make sense or are we missing something?

Thanks,
Chris

I am looking to purchase an apartment building and would like to learn more. I know that this is considered to be more commercial property and therefore there are different rules and different methods of financing as compared to traditional single family homes.

Can anyone recommend books for me on this subject?

Thank you!

@Ced Chan that’s really helpful information! Thanks man. 

@Christopher Petrillo Thanks so much! :)

@Account Closed

The biggest reason is it is still affordable! My friend has been able to get properties in all cash for around 70k. I looked on different websites and it looks like the market in memphis doing pretty well. 

@Robert Schmitt

Yes house hacking is the business!

@Ned Carey 

Thanks :)

@Clay Gradis

Thanks for the advice! I'll try not to stretch myself too thin :)

@Steve Kontos

Yea my friend is doing well he's cash flowing out of 4 properties with barely any real money down. He's the one that inspired me and got me excited about this being possible! Appreciate the encouragement :)