All Forum Posts by: Enzo Pazos

Hello Everyone! I'm planning on creating an LLC with a friend who is not a US Resident yet. He has a work permit, a stable job, and a good FICO credit score. The idea is to start buying properties under that LLC.

My question is: how does it work with the process of getting a loan? Is it easier to buy a property under my name and then transfer it to our LLC? Does anyone know how the taxation for the LLC would be? Since he is not a US Resident, is he still able to receive income and pay taxes through the LLC in the US?

THANKS!!

@Fernando Perez hey man! I’d love to connect!

Hello Everyone!

I have a question regarding a possible partnership (LLC) I want to do with a friend from Argentina. I live in the US and already bought a property, my credit score is good and I meet all the requirements to buy another. My friend,on the other hand, has the funds but not credit history in the US (he lives in Argentina). The idea would be to buy a SFH with a conventional loan and a low down payment (5% ish since I will be moving there). After the closing, we would transfer the property (under my name) to our LLC USING A QUITCLAIM.

What do you guys think? Is it possible? Have you done something like that before?

THANK YOU!

@James Williams yes please!

Looking to add a shower in one of the bathrooms and also a small kitchen. THANK YOU!!

@Ned Carey thank you for the quick response.

It would cost $420k (maybe less). And yes, it would rent for 3k a month. The idea is to move out after a year and rent the whole thing.

I believe emotions play a big role here. These units look amazing. But I can see the numbers not making much sense.

Thank you again

Hi everyone!

I found this duplex in Charlotte (each unit costs between $230K and $245k) and I can buy them for 210k each. My idea is to do a house hacking where i live in one unit and rent the other. Each unit is 2bed 2bad and can be rented for $1500 each. My brother will live in one of the rooms so there will be 3 people in one of the units (my wife, brother, and myself).

Both units are very well renovated.

With an FHA loan and roughly 10% down payment, my monthly mortgage with property tax, HOA, and everything will be $2,200-$2500.

Is this better than renting? Is it too expensive for being my first property?

THANK YOU!

@Alvin Martinez welcome to BP! Just like you. I am new to the real estate investing. I also live in NYC. So If you would like to meet just send me a dm! Take care and enjoy the snow

@Simcha Davidman Thanks for the response. It does have to be an apartment complex. I was always thinking about SFH or Small Mutifamily. They are looking to get at least 2.5K per month in cashflow. I see that you live in NJ. I am in NYC. Please send me a DM if are interested in meeting.

Thanks!

@Matthew McNeil thank you for your advice! Honestly I do not believe at all that Argentina is the 20#. there are few rents in the whole country currently at $1400/month like the article says. The economy is not stable at all and inflation is close to 40%. Investing in the US is what my parents and I are most comfortable with.

Thanks again!