All Forum Posts by: Chinmay J.

Under whose name is the LLC registered? You can go to the state website where the LLC is registered and see who the registered agent (usually the member of LLC or sometimes attorney) is. Contact them and express your interest in buying the property. You seem to be a little new, so you might want to contact a real estate agent to see if they can contact the selling party on your behalf. Don't be spooked by the fact LLC owns the house. Lot of investors buy properties through LLC.

@Alejandra Corona - What bearing does the fact that LLC owns the property has on whether you should buy it or not? In other words, what is bothering you when you learned that its owned by an LLC.

@Christopher Phillips - Great explanation !

 Maybe he doesn't want anyone to take a peek from the outside? LOL

@Tyler Beley -  My first reaction to your question was... "Huh"..... But let me answer it to the best of my abilities. There are SBA loans for buying commercial real estate. SBA Loans (504 Program) .So acquiring the SBA loan through approved lender is possible. I am not sure how easy it is. What business does your LLC intend to perform? If you are thinking of setting up some dummy corp and funneling SBA funds through it for buying real estate, do you really think SBA approved lenders are dummies? What you are saying is not only unrealistic, but at least the way you have worded it smells of downright fraud. If you really intended to write, the way I am reading it, you would be spending lot of time behind bars.

@Lee Carrell - Tell her that you are going to the civil court to get a judgement against her. Go to the small claims court and file a case against her. Sometimes threat of filing suit puts them in line.

 Also listen to Podcast # 155 from @Sharad M who also invests in less affluent neighborhoods. 

@Jai Koolwal - You can get a feedback from the RE agent, or you can drive/fly to the place and look around yourself. What is it that you are looking for in a community? A lot of times people seek out properties in B or C neighborhood for better cash flow.  Listen to last week's podcast from @Joseph England, who invests in Baltimore City (which can be a pretty rough neighborhood). 

@James McCartin - Fellow investor from Leesburg. Welcome to BP. Listen to lot of podcasts. There is a webinar every Wednesday. See if your schedule allows you to attend it. Local REIAs are must. I know I am guilty of not attending any so far, and I will slap myself for it later on, but that is going to change in 2017.  Set your goals, and go for them... Have you decided which area you are going to invest in. Our area can be sometimes cost prohibitive, but if you go down further south or west, you can find some good deals. 

Good luck.

@David Zheng - Take a chill pill bro.  I loved your post on how you built the business in last 13 months. There will always be some bad apples. I am sure you already know this and I am preaching to the choir (most likely) but do you check references before you hire them? That might save a lot of heartache and headache.