All Forum Posts by: Kellen Driscoll

Eric Andrews Thank you for the replies!

So for $3000 all my buyers agent is doing would be writing the offer?

Hey BP, I would like to ask some recommendations from other investors. I have spoken with an owner for a property that he is willing to sell for 185k. He doesn't want to use an agent due to the commission he would have to pay. I spoke with a buyers agent who said they would charge 3k to represent me? I am assuming that just involves submitting a purchase agreement? Would I be better off writing my own purchase agreement? This is in Florida by the way, I'm not sure if there is anything state specific involved here. Thank you!

Hey BP, I am curious if anyone has any insight to an insurance company they have found reasonable and easy to work with in the Tampa Florida area? Thank you!

Great thanks for your advice! Tom Parris

Hey BP,

I am curious, does anybody have any experience working with Seacoast National Bank? ( In regards to conventional or commercial loans )

Thanks!

Hey BP,

I am in the process of purchasing my first investment property. The deal is two duplexes side by side in Florida. I will be using hard money in order to close quickly. I am required to purchase through an LLC, and the lender is requiring my father to be a member of the LLC due to this being my first property. I will be refinancing relatively shortly after closing and moving into one of the units.

My thoughts are to completely keep my name out of the property and just move in as a tenant would, but I am not sure if there is a disadvantage to that?

Also this is my first set of properties, so I am really not sure if paying to file a corporate tax is worth it with 2 members in and LLC?

I was wonder if anyone could offer any advice as to this somewhat strange situation.

Thank you!

Hey BP, I am looking to start an LLC with my father as a Co-Owner in order to purchase a 4-plex with hard money. My question is will this require me to file a corporate tax return due to having a co-owner? Also will I have trouble refinancing out of the hard money loan if I use this strategy? Thanks!

@Antoine Martel Thanks for the advice. I will call up a few banks and get some opinions!

@Antoine Martel Thank you for the response. What I am asking basically is am I going to have trouble when it comes time to get a conventional loan on my primary residence if its under an LLC? My thinking was to switch the deed of one of the duplexes to my name for that reason. How will the hard money lender react to this? Also, the bank? Thank you!