All Forum Posts by: Jaren Woeppel

Hey BP Community!

My wife and I are getting into the real estate investment world and would love some support and advice from the BP community. We are planning to acquire around 20 units in the next 5 years through single family or smaller multiplex units. We really need some advice on how to get our business in order. We plan on doing most of our investing in Oklahoma, which allows for LLC series. What would be the best way to set up our business model allowing for the most protection and tax advantages. Have an S Corp own the series LLC?

Next, is there any legal way to personally finance the properties then transfer the property to the LLC's? It would be much easier to get a personal mortgage than a commercial one through the LLC, however, I do not want the bank to call the loan due because of this switch or not be completely protected because I was in breach of the mortgage.

Thanks everyone!

Respectfully,

Jaren Woeppel

@Edward B.

Thank you very much for the insight. It looks like I will need to find a good real estate attorney and really get my options lined up. 

Does anyone know a good real estate lawyer in the Oklahoma City area that they have previously worked successfully with?

Great information here, everyone. I am new and I was wondering the same thing. Does anyone have a problem getting lending through their LLC apposed to getting it personally? I would assume it is much easier to get a personal mortgage, is that correct?

 Thanks, Steve

Thank you for the advice, Brie. My main goal is to acquire buy and hold property, single family and smaller multiplex, do you think it would be a worthwhile investment for me to get  my my license?

Hello BP Community!

I am new to BP and have started listening to the podcasts from day 1! I would like to get my real estate license to educate myself on the process and to have access to the MLS. I have recently moved to TX because of my job, but I know I will only be here for 1 year. I will then be moving to Oklahoma, right next door. I would like to get my license soon, but don't know which state to register in. To summarize, I currently live in Texas, and could see myself buying property here in the near future, but I will be moving to Oklahoma in about one year. What should I do? Any advice would be very much appreciated.

Respectfully,

Jaren Woeppel

Congrats on the first offer. I am new here as well. What is the concept of 'house hacking' you have mentioned?