All Forum Posts by: Eric Hipolito

Thanks so much Vitaliy. This really solidifies some of my cross-research

1. Best FHA/Conventional loans need to be purchased by the individual, not the LLC

2. Avoid the "due on sale" clause when transferring from individual to LLC. It keep be determined as fraud.

3. Keep the LLC (lease, insurance, rents, bank acct, etc.) and the individual SEPERATED for the most protection an LLC can provide and avoid 'piercing the corporate veil'.

4. Have a good lease agreement in writing

I appreciate you taking the time to answer my question!

I'm planning to buy my 2nd property in my name to decrease my down payment (3.5-5%, FHA or Conventional) and plan on house hacking. My question is, would it be better for my roommates to pay me directly or should I start an LLC and treat it like a business from the beginning. I want to cover my assets, but also prevent any awkwardness that might arise from being both a roommate and landlord at the same time.

Follow up question, what would a good exit strategy be for when I move out it 1-2 years when I try to rinse and repeat the process.

All insight greatly appreciated!

I have my first rental property under my name and I know I need to transfer it to an LLC asap. But now, I've fallen into the rabbit hole of creating LLC's, structuring investment portfolios, protecting assets (holding companies, living trust), etc. I'm seeing that I can create an LLC on my own or have a generic company file (i.e. LegalZoom, IncFile) or pay larger sums from real estate CPA's/tax advisors.

 I'm not opposed to working with a tax strategists (I'd actually like to in the future) as I scale my portfolio, but some entry cost for those services seem a bit steep. Or perhaps they're not and actually worth every penny to structure early on?

As a newer investor, what is the most important structure that I need to establish to protect myself and future growth? If I do enough research, can I accomplish this all on my own or should I simply pay a service to get it done right the first time? All insight welcome. Thank you!

Thank you BP community for all the input. It's been extremely helpful!

Cheers, Eric

Hello BP community,

I'm new to BP, but excited to learn through so many forums. I'm looking for my 2nd investment property and was waiting to reach a 2-year mark of my W-2 job to apply for an FHA loan or HELOC. However, I just learned about DSCR loans and it looks like an enticing tool. Is this something that I could househack or does it need to be purely a rental property?

Could anyone offer insight on DSCR loans and/or provide any reputable lenders? Thank