All Forum Posts by: Chris Teti

I've worked with a company called MB Capital Solutions and they were great. Opened up a whole new world of capital to me. Message me if you want to talk more about it.

I think this can be a powerful tool if you work with the right company. The key is to work with someone who can come up with a strategic plan to target the correct banks and lenders based on our specific situation and goals instead throwing applications at a wall and hoping for the best. I've used them in the past and strengthened my credit through the process. 

Thanks for everyone's input. Much appreciated. 

@Jonathan Marcus, I had to put down 20% on my standard mortgage anyway. I wonder what the rest of the terms look like. 

Thanks for the info everyone.

Hi Jonathan,

I was told that I cannot purchase a property in my business name. I'm assuming b/c it has not history or capital. 

Interesting about the deed. That may be the way I have to go. 

Ideally I wanted the profits (either from a flip or a rental) to go into the business which we share, if my partners name is on the deed but not the mortgage or insurance, do you have any recommendations on the best way to accomplish this? If I have the deed in both our names but the mortgage is in my name only, who will the check be made out to on the sale? 

Hi Alex,

If you don't mind I have a few follow-up questions. 

1) Was the commercial loan a complicated process? My business entity has just been created so it really doesn't have any asset.

2) Is the commercial loan much more expensive than a traditional mortgage?

3) I'm assuming you had to then transfer your home owners policy to a commercial insurance policy.      3a) Did you have any trouble getting the commercial policy?

    3b) Was it much more expensive than the home owners policy needed on a traditional mortgage?

Thanks for your help.

I'm hoping someone can give me some advice. When buying an investment property here in NJ to either to flip or hold, my plan was to move it into my business name (newly formed business) after closing (simple deed transfer). I purchased the property in my name and with a mortgage in my name only, but the business has another partner.

When going to have the deed changed, that is a pretty simple process but the other items (insurance, mortgage, etc) seem to be more complicated. They either restrict this from happening or require me to get more expensive commercial based policies.

I hear about people doing this all the time but it doesn't seem as straight forward as i had hoped unless I'm misunderstanding something. Any advice or recommendations would be appreciated. Thanks.