All Forum Posts by: Chandler Ludwick

Well one of the other reasons is that we have multiple partners so I feel (uneducatedly) that it would be more above board and clean through an LLC rather than one investor take the mortgage out.

I have an umbrella policy

I like the liability protection an LLC provides, but everything I read says that banks won't lend to LLC's (or allow to deed to an LLC normally). So do most of y'all not go the LLC route? I am assuming then you would just get insurance?

I am in Texas, so yes it does allow a series LLC. Would the best method be for the LLC to take out the mortgage (if could find lendor even), or one of the partners take out in their own name and transfer to the LLC (if lendor allows)?

I will definitely talk to a lawyer. while I set that up, does the following have any merit? 

Setting up a general partnership (with partnership agreement) for each property individually? 

Do you have any ballpark what it would cost for a CPA and RE attorney to set something like this up? Just trying to get a rough estimate before I jump in

I have 4 friends and we want to pool our resources together and purchase rental properties in the city we all went to college together in (focused on student housing). All split equally down payments and returns. We will not be managing these properties ourselves. 

Generally what structure would be best suited for us to organize under? I have been reading about LLC's but I read that we would not be able to use certain benefits that a solo person would (like FHA, lower tax rates, etc).

Thanks in advance