All Forum Posts by: Jasmine G.

@Robin Simon I’m looking to put at least 5% down in a loan and use a larger portion of my capital to buy down the interest rate to take off a couple of points. Additionally I want to keep reserves for small cosmetic Renovations as needed. I’m trying to buy with as little money down as I reasonably can with enough to use towards bringing down that interest rate and keep cash reserves. Additionally I don’t want to dip into my personal primary residence rainy day fund. I have my separate allocation of funds exclusively for investment property. I could have easily gotten a home with what I have now back in 2021 :(. But the struggle is real right now…

@Jaycee Greene I’ve contacted big banks small local banks and I haven’t quite tried credit unions although I have 2 credit unions for which I have accounts (but my experience is that they aren’t offering that much better terms). I haven’t tried hard money or private money lenders either. So I’m trying to get a feel for what’s out there. I will keep trying to find something tho!

I am looking to purchase my first rental property. I currently own my primary residence where I am responsible for the mortgage. My husband on the other hand is not tied to the mortgage and has the ability to obtain a conventional l

loan as a first time homebuyer. However, we’d like to purchase the next property as a single-family or single-family townhome. I’m struggling to find ways to find low money down with average interest rates to purchase the rental home. When I speak to finance institutions, I am only offered non-conventional loans for investment properties which require high down payments and significantly higher interest rates. Right now the market isn’t that great but I could see us looking to purchase a multifamily duplex however, in the current market, I’m finding it difficult to be able to have one tenant cover the cost for that property to break even.

@Daniel Hennek

This is excellent advice! Thanks for the insight ☺️

@Scott Krone

Thanks! Do you happen to know if larger national banks provide financing to LLCs in general or do you find that it varies by state? And do you happen to know any larger banks that typically offer this type of financing?

@Naoko Potts

Hello! I'm having the same issue for financing a property under an LLC vs individual. It's a good start that you found a bank willing to put it under an LLC! Which bank is it? Is it a large national bank or a smaller local bank?

When you have a potential investment partner for a rental property, how do you typically finance the mortgage on the property that makes your LLC the owner on the title/deed and not you specially? For conventional financing, do banks typically offer mortgages to LLC+investment person? As a business owner, how would one not become "liable" for the mortgage, but the LLC? I'm having a hard time wrapping my head around conventional financing for rental property as a business owner. As I'm sure credit reports and asset review needs to be done to qualify for a mortgage, which is totally fine and all. I just need to figure out how to put the LLC on the title without tripping the "due at close" clause for conventional mortgage financing when switching ownership/title to an LLC.

Hello everyone! I’ve found my first distressed property in Pennsylvania! 😱 I’m excited and a bit nervous. It’s a colonial home built in 100+ yrs ago, and is vacant and in rough shape. It looks like something from a cliche horror film. I’d like to venture out into the wholesaling world. To be honest I have no idea what I’m doing. I still need to identify the property owner, which is my next step. I’d like to figure out how to find potential buyers. I also would like to do everything the honest and legal way! Does anyone have any resources for laws in Pennsylvania and building buyers lists?

@Jonathan Greene Hello! So how can a wholesaler legally sell the property? Do you have to go through a licensed agent to close the deals?

@Orly Howard Hi Orly! Awesome! Do you have buy and hold properties? And what interests you about house flipping?