All Forum Posts by: Jack Maisch

If I use my FHA loan, after a year of living in the household, can I convert my FHA to my LLC and still reap the benefits of that 3.5% down payment?

My partners and I have been discussing the future of real estate ventures and, naturally, the topic of outside investors was brought up. We have a (1) SFH Section 8 property in Cleveland and (1) 1-bedroom apartment in the outskirts of NYC in their own respective LLCs and once we acquire our next property, we plan on wrapping each LLC in an LP.

We're still very green in the real estate world and we've been having constant discussions on what we want to do moving forward. We went into it thinking eventually we'd want to flip houses, possibly do syndications, get realtor licenses, and essentially be a one stop shop for investors (i.e. turnkey).

My question to all of you is what strategies can we utilize to bring outside investors in to maximize returns. In continuance, what type of returns are outside investors looking for typically?  I realize this is a general question, but my partners and I are just starting out and we'd love feedback/advice from more seasoned real estate investors/professionals to help us more forward. 

Any help would be much appreciated!

@Jad Boudiab The turnkey provider we had originally met with was a one stop shop in the sense that he provided the turnkey property as well as assumed the property management role after the sale. Essentially looking for the same thing.  

My five partners and I just opened up an LLC in Ohio and are looking for turnkey property managers in the Cleveland / Cuyahoga County area, specifically looking to get into Section 8. This is my partners and I first venture into Real Estate - we had a turnkey property manager lined up, with them specializing in buying distressed residential properties ranging from 1 to 4 units. Upon our due diligence, we thought it was a great place to begin our Real Estate journey and saw the string of success they were having, however instead of selling their properties to turnkey investors they've pivoted their business strategy to more of a BRRRR method.

That being said, with my partners and I opening up an LLC in Ohio, we're looking for another property manager that fits the aforementioned criteria. If anyone had any suggestions to point us in the right direction it'd be much appreciated.