All Forum Posts by: Geoffrey Giannone

Hi everyone!

I just recently bought my first rental property and rehabbed it with a partner of mine. Looking ahead, we hope to refinance it into a longer term mortgage with lower rates than we currently have. However, our goal is to have this in an LLC when we refinance. We have heard that banks do not give LLC's 30 year mortgages.

We have heard that some people refi the property in their personal name and then transfer the title to the LLC's name in order to get the 30 year mortgage. Is this common practice? And if so are there any issues that could arise from doing this? It seems like transferring title without the bank knowing is a bit of a gray area. Any thoughts would be appreciated.

Thanks in advance for any answers and advice.

Hi everyone!

I just recently bought my first rental property and rehabbed it with a partner of mine. Looking ahead, we hope to refinance it into a longer term mortgage with lower rates than we currently have. However, our goal is to have this in an LLC when we refinance. We have heard that banks do not give LLC's 30 year mortgages.

We have heard that some people refi the property in their personal name and then transfer the title to the LLC's name in order to get the 30 year mortgage. Is this common practice? And if so are there any issues that could arise from doing this? It seems like transferring title without the bank knowing is a bit of a gray area. Any thoughts would be appreciated.

Thanks in advance for any answers and advice.

Hi everyone!

I am finishing up the renovations on my first rental property I purchased with a partner of mine. We are now hoping to get in touch with a local accountant who we can trust to ensure we do everything we can to file correctly and get the most out of any tax benefits we may now have. My partner and I also have other business ventures as of this year so we will have multiple LLC's to deal with. It is a bit daunting and we definitely don't want to do our taxes ourselves and risk doing it incorrectly or not taking advantage of everything we can.

If anyone could give me recommendations for accountants they have used in the Dallas, Tx area that they have had good experiences with that would be incredibly helpful! 

Thanks in advance!

@Andrew Postell I will definitely check out some of those. Thanks for the recommendations, I'm excited to start meeting people in the industry!

Thanks for the tips @Adam Mitchell! I am definitely interested in properties in similar areas around Dallas, so I am happy to hear of good success. I'll reach out if I think of anything, thanks.

Thanks @Chris Reynolds I'll look into the meetup! I appreciate the warm welcome @Lucia Rushton and @Cole Raiford!

Hey BiggerPockets Community! I am completely new to the real estate investing arena, but after hearing about BiggerPockets and checking out the podcasts I have been very interested. My main interest is in rental properties. I'm not looking to jump into any investments for about a year while I learn and build up some savings, but I want to spend that time getting to know the industry and understand the housing market up here in north Texas. 

I am also looking for suggestions on where to go to network up here in the DFW metroplex. Also if anyone has suggestions on how I should go about learning the market up here, whether that be speaking to realtors, going to open houses, etc. I'd be happy to hear them.

Thanks in advance and I am happy to be here!