All Forum Posts by: Christian Sirio

@Gabe Rivera are you talking about flipping houses? Because I’m trying to get rental properties right now. I didn’t know how to edit my main post, but rental properties is what I’m trying to do. For the mean time anyways.

@Daniel Dietz if you don’t mind me asking, do you use banks or private lenders?

@Gabe Rivera thank you for that info! I’m gonna look into that deed because I’ve never heard of it.

@Gabe Rivera he’s an old coworker of mine. He got called by an outstanding company while we were working together. I proposed a partnership idea and he loved it. So I’m just trying to get it off the ground right now.

@Gabe Rivera i am using a lender, my partner is basically just putting the money for the down payment and covering the rehab costs.

@Daniel Dietz I appreciate the time you took to explain. I love your buyout method and might actually steal that idea from you if you don't mind. How'd it go for y'all putting the mortgages in the LLC? I've read that it could bring up problems trying to do that.

@Jonathan Greene I guess I should edit the post. I didn’t even realize I messed up that. But it’s going to be rental properties. He gives the money, I find the deals, contractors, and manage the property. So 50/50. I would just like some info on how I should go about this so I can start pushing forward.

@Kody Thompson the thing with the LLC is that the banks around my area only work with LLCs that have had at least 2 years of w2s. I gotta look at my notes and see what else they required, but that was a big one for me. My lender won't lend to an LLC and the bank requires previous experience and numbers in order to loan. What would be a great way to go about this? I'm thinking opening the LLC now then just using my social to get mortgages then transferring them to the LLC, but I know there can be problems with that.

So I have a partner who is willing to put up the money for the down payment on the deals I find and also rehab costs. We’re going to split profits 50/50. What would be a great/best way to do this? As I am a newbie with a golden opportunity and I’m seeking expert advice. Please let the knowledge flow. Here’s the curveball, he doesn’t want his social attached to the house. It’s basically my info going on the mortgage and he supplies the cash for everything.

I would also like to know when the next meeting will be. I have yet to actually start investing, but would like to pick some brains and discuss real estate with locals.