All Forum Posts by: Graham Northrup

Greetings BP Hive Mind! I hope you are enjoying your New Year's Day. One of my goals for this week is to get prequalified in order to make offers.

However, I will be doing so through my LLC, and most of the loan information out there is for homeowners or personal loans, as opposed to getting a mortgage loan through a business entity. I have gone through the process several times as a homeowner, but never as a business.

Can anyone share any resources with info on: 

• banks that do mortgage loans to LLCs
• the process of getting pre-qualified through an LLC
• rates and terms that I should be looking for as a business borrower

Anyone had any success going this route? Do you try to do local banks, or have you had success with the national banks in this regard?

Thanks in advance and have a great start to your NEW YEAR!

-Graham

@Jennifer Thompson Welcome to BP. Working on rentals in Pueblo myself. Best of luck as you get started!

Thanks @Rick Pozos. My mom is pretty chill about things anyway. But we are dotting our t's and crossing our i's nonetheless. :) 

We have spoken about private lending, and she is open to it, but her preference is for an ownership stake on any rentals.

BTW, I used to live in San Antonio on the northwest side. Great city!

@Jim Goebel Thanks for the comment. We could still structure it as a private lender arrangement. Have you had bad experiences with family before? I've been in business with family on other ventures, and it definitely has its ups and downs, but is there a reason this particular arrangement would be troublesome? Thanks!

Greetings BP!

I'm going to be forming an LLC with my investing partner (Hi, Mom!) to protect her assets. What I'd love some feedback on is an equitable equity split. We can both bring cash to the table, in roughly equal amounts (although she may have access to more cash in the future), however, I will be doing most, if not all of the legwork (managing the rehabs, finding and managing PMs, working with Agents, Attorneys, CPAs, etc, etc). I've heard Brandon Turner say he's done deals where he brings the hustle and they bring the money and they split 50/50. What might that mean for partners who are both bringing money? Does anyone else have examples of splits with a similar situation to mine? 60/40 (to me) in, 50/50 out? or Vice versa? etc. etc.

Thoughts? Thanks!

Thanks everyone for your PMs. Talk soon!

Greetings BP folks! I'm heading to Provo, Utah to look at BYU student housing, as well as small (residential) multi-family. Is there anyone on BP that knows the student housing market, etc, that could take me around a bit on Friday, September 28 in the afternoon, or anytime on Saturday? Trying to get a feel for what's available. I have a daughter who starts at BYU in the Fall of 2019, and am interested in seeing what the student housing investment landscape looks like. Thanks in advance for your time or referrals! 

Graham

Thanks for this. Best of luck to your Son-in-Law! 

Still researching the area and weighing options. My daughter is very interested in investing (at 17 she already has more money in a mutual fund than I did 5 years after I got married :) ). Maybe would be interested in going in on the property herself. Are they planning to live there just until they graduate, and do you plan to hold if/when they move? Also, does the home need any repairs/updates, or is it fairly turnkey? 

Greetings! Newbie potential investor here (and first post on BP!). I have a daughter probably going to BYU in 2019, and 4 more daughters that may follow suit in the coming years. I've long thought about investing in a place that they can each stay (and hopefully cover or reduce their own rent payments). Has the market changed much since the original post ( I assume it has only gone up :/ ). What are some good resources to look for BYU contract housing specifically? Thanks in advance for any advice. - Graham