All Forum Posts by: Ethen Royal

Thank you for the information, do you think I should try and do the fannie mae loan under my new LLC or under my personal name since thats where all of my credit is established or does it even matter as long as I have the amount for the down payment? Thanks again

Hello BP community, I am working with a realtor who has found me a brand new 4 plex unit for 472,000. Each unit rents out about 1050 a month. I attempted to get an FHA loan with putting 3.5 percent down however I was told by my bank (Navy Federal) that FHA loans only cover SFR and Multifamily units and not triplex or 4 plexs. Is there any other type of loans out there that I could apply for financing? Even if I would intially live in one of the units? I just started an LLC, should I try and get a business loan under the LLC which has no credit or just do it under my name. My credit score is 780 as well. Would a regular conventional loan be good?

Thank you for your reply @Matthew Irish-Jones

Ok thank you for the information @Donald SaintVal

Hello BP Community, my question is if I have a property that has just been switched from my sisters name to my name (Loan and all) on the title, how do I go about switching this title over to my newly formed LLC without the bank requesting the loan to be paid in fully. In other words can I assign the title over to a quit claim deed and then assign the quit claim deed to my LLC maybe I am wording this process wrong but can't something like this be done and if so how?

Congratulations!! Would love to hear more about the issue you had purchasing the second property I am new to this as well and was wondering if you had to get an llc for tax purposes?

Thanks for the replies. So even if I get a lender do I still need to get an LLC to keep this investment separate from my personal life in case I want to purchase a house for my self and so it wont effect my credit score?

Hello community, I am looking to invest in real estate. I am from Georgia and am a contractor working overseas. I have 50,000 of my own money I am willing to invest so I really don't need a lender. I am wondering is it possible to secure at least 2 homes with this money and if so do I need to start an LLC first to put them under so it wont effect my credit score even though it is a 750 and also to keep it from coming back to haunt me in the future when do try to buy my own first house to live in. I am open to suggestions this will be my first time investing. Thanks.