All Forum Posts by: Joshua Davies

@Colin C leamy you were talking about turn-key properties as a low-risk investment opposed to other opportunities. I am saying not to overlook a value-add opportunity due to the above reasons. Like I had previously mentioned, it all depends on your strategy and your personal goals. 

@Colin C leamy Hi Colin, honestly it all depends on your strategy/goals you are trying to achieve. Personally, I think there is a lot to be said for value-add opportunities, you may be a little more out of pocket initially but if you can find the right deal, the forced appreciation and equity will speak for itself. You can use the cash flow and equity in the property to acquire the second unit.

Feel free to PM me if you would like to chat.

Thanks for your response Chris! Does anybody else know any alternatives or know the answer to this?

@Bobby Montagne are you aware of the below from Fannie Mae?

@Chris Mason do you know the answer to this? I know you are very knowledgeable on this subject.

Thanks!

Hi All, I have recently created a new LLC in TN for the purpose of Real Estate Investing and the LLC has 3 members (33.3% each) including myself and 2 foreign investors from the UK. As my partners are foreign, they will not be able to obtain financing here in the US so the mortgage will be in my personal name. We will then transfer title to the LLC upon closing (we have received lenders permission to do this). My question is, when we come to purchase another property will the lender view me as responsible for the whole mortgage debt and only 33.3% of the income? Or can I use my LLC returns to offset my monthly obligation? Below is from Fannie Mae: “If the borrower is personally obligated on the mortgage debt (as evidenced by inclusion of the related mortgage(s) on the credit report) and gross rents and related expenses are reported through a partnership or S corporation, the business tax returns may be used to offset the property’s PITIA”. If anyone has any knowledge of this or experience in doing this please share! Thanks!

Can anybody provide any insight on this?

I found this on the Fannie Mae guidelines - can any lenders confirm if this applies to my question above?

Hi All, I have recently created a new LLC in TN for the purpose of Real Estate Investing and the LLC has 3 members (33.3% each) including myself and 2 foreign investors from the UK. As my partners are foreign, they will not be able to obtain financing here in the US so the mortgage will be in my personal name. We will then transfer title to the LLC upon closing (we have received lenders permission to do this). My question is, when we come to purchase another property will the lender view me as responsible for the whole mortgage debt and only 33.3% of the income? If so, can I have the other 2 members sign to personally guarantee the loan also which will then make me responsible for 33.3% of the debt in terms of calculating DTI? If anyone has any knowledge of this or experience in doing this please share! Thanks!

@Siah T. @Chad Reynoso please pm me your emails. Once we have yours I can begin to organize the meet up.

Thanks!