All Forum Posts by: Account Closed

Hello @Mike Reece

Can you please share what is your strategy to find duplexes and other multifamily properties in Arkansas?  

Thank you,
Kysha  

Hello @Jeremy Geyer,

Do you have rental properties near Jacksonville or the Little Rock Air Base? I'm originally from that area and I'm considering investing in Central Arkansas because AR property prices are 1/8th of what they are here in LA. What is your target market in the Arkansas region? Do you rent primarily to military servicemen/women and moving forward, are you looking to invest near military bases? 

David Dachtera Thank you for sharing that! I've been trying to figure out how to edit posts 😂😂😂

*more details, not "most details"

No, but it is strongly recommended that you have a business entity, an LLC most preferably, to serve as a holding company if you decide to purchase property in Alabama or any state. Please refer to an RE attorney for most details.

We will also file UCCs on collateral and run UCC searches and supporting searches to ensure our collateral position is secure. What type of loan are you trying to get?

Hello Darrell, I am a commercial credit analyst with a community bank in Los Angeles. If you're opening a checkings/savings account then we'll usually need the business entity documents, TIN, & signer's government Identification. The following is what we typically request from a business entity who is applying for a loan : -Tax ID number -Corporate/business entity docs filed with the registering state -Any additional legal partnership and business structure documents -3 years of business tax returns -3 years of business profit and loss statements -business inventory and A/R &A/P statements (for C&I deals) -guarantors ID -3 years of personal tax returns -3 years of personal financial statements Then we will run background reports for both the business and guarantors, credit report for the guarantors, OFAC reports, industry performance reports and any additional negative news searches. If the loan is to purchase property, we'll also pull: -Property profiles -appraisals -environmental reports -title report

Hello Rohan, I'm sure you're aware of how expensive and how low cap rates are here in LA. Have you considered investing in major southern college towns such as Austin, TX, Fayetteville AR, Tuscaloosa AL etc? Those properties are still cheaper than Los Angeles multifamily properties and their cap rates are usually much better.

Congrats on your transition to Texas. There is no state income tax in Texas and property costs are much lower than NY. Austin is one of the best cities to invest in due to the growing population from the University of Texas and tech companies. Good luck on your move and may you find many deals in the Lone Star State. 

Hello Peter, Alabama has a few cities that are growing and property values are very reasonable there. Airbus moved into Mobile,Alabama a couple years ago which brought more businesses, jobs, and people to the South Bay Area including Daphne, Fairhope, and Foley. Tuscaloosa hosts the University of Alabama which is a great opportunity for college rentals and they're relatively cheap with better cap rates compared to anything in Los Angeles.