All Forum Posts by: David Hagen

Apologies for the formatting, it looked so nice in-app on my phone!

Good morning, all! I’m looking at purchasing my first investment property in northern Illinois, but I’m finding myself hung up on how to effectively get this property into an LLC. I was looking at using a traditional lender for a 30-year loan From what I’ve read it requires that I find a lender that is willing to let me sell the property to the LLC whilst keeping the mortgage liability in my name, but I’m not sure how common that actually is. The only other method I’ve seen is to buy ther property outright, which isn’t an option currently Does anyone have a particular method they used to establish this? Thank you in advance!

@Matthew Perry Awesome Question. My first goal is to close on a strong ROI multi-Family property in my area late thIs year or early next year. This will be my first investment property, so I’m like some others here — soaking up all the knowledge I can! My second goal is to find and acquire two more multi-family properties. My wife and I earn enough to have the down payment on 2-3 properties a year without any passive revenue stream, so we’re living frugally and putting money away like crazy. My third goal is to have my third child in January — not much of a choice in meeting that one! Any helpful advice anyone has regarding how to expand any faster, please reach out! I’ve got a 5-year plan to be financially free and cash flowing 5500/month take-home, but if I can meet that any faster it would be the dream. I currently work a highly stressful executive-level job and am supremely excited with the prospect of leaving it for quality family time and work that I am passionate about that is generated from my own efforts.