All Forum Posts by: Christian Thompson

@Manish Agarwal Thank you!

Thank you @chris Coleman and @natalie kolodij ! That's what I'll do!

I currently own a SFR and want to open a business account for it. I know that I need to open an LLC in order to open a business bank account. Is there a way to do this without having an LLC? What are my options to keep the rental income/expenses separate? Would I just open another personal and only use that for rental income/expenses to avoid opening an LLC?

Thanks in advance!

@Anthony @Jaysen 

So this would be an off market deal. I honestly do not know if the owners would be willing to sell. I'm just trying to get my ducks in a row for when I do call them and ask if they are interested in selling. I'm new to real estate investing so I'm trying to figure all this out. Thanks for yalls help. 

@jaysen current rent is $1,050. You are correct about not actually making anything off of it. Thank you!

I currently on a SFH that I rent out. I've had the property for 2 years now. I'm looking to get into small multifamily. I'm trying to pull more lines together for the down payment and rehab of the property.

What is best to do? A cash out refinance or home equity loan? Or is there something someone else suggest?

I currently owe 167k in the property. It appraised for 180K 2 years ago. Not sure how much equity I would be able to pull out of it if I did a cash out refi. 

Im looking to purchase a 10 unit multifamily property im a college town and use for student housing. The property will need some work.

- New paint (interior/exterior)

- New floors 

- washer and dryer hookups need to be installed

- countertops etc. 

If I wanted to use a hardmoney loan to fund my deal/rehab, but they have tenants still in the units. What do I do? 

Hardmoney loans have high interest, so I don't see it being beneficial to use that if I can't get the tenants out. 

Would it be better to try and get a credit union for the deal? Or see about seller financing?