All Forum Posts by: James Johnson
James Johnson has started 6 posts and replied 35 times.
Post: 2024 multi family investing

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Rami, nice to meet you! I started investing in 2017 and bought my first duplex in East Liverpool, OH. I'm from that area but now live in California. I'm super excited to connect with you and possibly do business together.
Post: buying a 2-4 unit under LLC in texas

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
The process of acquisition for residential funding and commercial funding can differ in several ways. Here are some key differences:
1. Proof of funding: With residential funding, you can typically get pre-approved for a loan in your personal name, use that pre-approval to show sellers/agents that you have access to financing. With commercial funding, you will need to provide more detailed financial information about your business or investment portfolio to show that you have the ability to make the purchase. I had to provide my LLC paperwork, banking info, and most of the first time commercial purchases you will give them a background on your investment style and holdings…
2. Property type: Residential funding is typically used for single-family homes, condos, and small multi-family properties (up to 4 units). Commercial funding is used for larger multi-family properties (5+ units), office buildings, retail spaces, and other commercial properties.
3. Loan terms: Residential loans are often fixed-rate mortgages with terms of 15 or 30 years. Commercial loans may have shorter terms
4. Down payment: Residential loans often require a down payment of 3-20% of the purchase price. Commercial loans may require a larger down payment (20-30%) and may also require additional collateral. I was surprised when one of my purchases required 25-30% down… but the more you use the same funding company the more perks you get for repeat business!
To show a seller or agent that you have access to financing for a commercial property, you just need to provide a letter of intent/proof of funds from your lender or financial institution. This will show that you have the ability to make the purchase.
Regarding your adjacent question, you can purchase a residential property with commercial financing if the property is being used for business purposes (such as a rental property). However, if you are purchasing a primary residence or a vacation home, you would typically use residential financing.
Good Luck!
Post: LLC Creation for Out of State Investing in Ohio using Hard Money

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Seriously, BP is killing me....As I was saying before they took my post down...Have your lawyer set up the LLC for you, you can do it but it's better done right the first time...Also don't let people on here or anywhere else tell you it's hard to get loans through an LLC...I buy all my properties with my LLC and have never had any issues, some lenders, hard money included prefer it! I put my number on here but they took the post down...if you need anything since not only do I invest in Ohio but I'm from there just send me a DM and I'll help in any way I can!
Post: LLC Creation for Out of State Investing in Ohio using Hard Money

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Darren,
You can have the LLC set up in either state, I'm in the same boat as you but I started in 2017. I have my LLC here in CA. and pay the $800 year fee at tax time, that allows me to buy properties in any state. It's worth it!
Post: Out of State Landlord in California

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Justin,
One of my out of State properties mortgage is $440.67 per month in Ohio, it is a duplex 3Bd. 1 Ba. 1692sq. ft. per side. It was purchased in 2017 for 60k… rents were $425/ side per month…after rehab I was able to raise the value to $120k and both sides rent now for $700/ per month per side… per year rent $16,800, my property Mgmt. per year is $1680.00 or 10% each month leaving me $15,120 in rents …my insurance is $1200/ year full coverage .. $13,920 is my take home per year because it was a full gut and I replaced almost everything…nice chunk of change for one property…
In California one of my properties was purchased in 2007 right before the crash for $470k…3Bd. 2 Ba. garage 1107sq. ft. Rents are on the low end $2,500/ per month mortgage is around $1500 … no property mgmt., and my insurance is $726.98 per year… however, when the crash hit my property went from 470k to 225k… but now it’s worth 575k…
so basically I would say out of State is safer but California had a faster rate of return and rents are higher… the exact home in Ohio would be worth a million plus out here…If I were you I would start off out of state and then transition to California properties if you were going to stay in California, if you weren’t gonna stay in California I wouldn’t worry about California properties with all the landlord laws and all the crap going on as a landlord in California I’m just disappointed right now
Post: Out of State Landlord in California

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Justin,
If you can afford the prices in CA. then I guess it's just a matter of where you're going to buy, I live in CA. and I do own 2 properties here but I do most of my investing out of state..again it comes down to spending all your cash in CA., for the price of a CA. home you can buy multiple properties in another state, however, with that said the CA. home, because of the prices will be worth more and bring you higher rents...
James
Post: Rental Investments in Pittsburgh, PA

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Hey Brother,
My name is James and I not only live in Concord but I'm from East Liverpool, OH..In CA. I own a SFH 3Bd, 2Ba, and a 2Bd. 2Ba apartment, in OH. I own a duplex I bought in 2017, I'm looking for my next purchase… Let's hook up and have coffee and talk ideas!
James
925.826.7770
Post: Building Business Credit?

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
You need to listen to this podcast on building business credit it has been amazing for me and my business
good luck,
Post: Contractors in Las Vegas

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
Post: Advantages to creating LLCs to do perform duties?

- Real Estate Entrepreneur
- Concord, CA
- Posts 40
- Votes 14
I have even gone as far as creating a separate LLC for each property for all my holdings in other States outside California. For my holdings in CA I use just one LLC per property, that way my liability is limited to the price of that particular property. For my main LLC, the one that started everything I gave it intertwined with a family trust for an extra level of protection.