All Forum Posts by: Lisa Eckman

@Wayne Brooks. Got it - thanks so much for clarifying!

@Brett Peters @Wayne Brooks Thank you both for your responses. Could you answer also in terms of the lender's perspective. Why would a lender NOT want to lend to an LLC? TIA

Can you try rephrasing your question?  I’m not sure what you’re asking. 

@Lisa Eckman I'm really surprised I haven't received any replies on this... Especially given how often this is specified in questions posted (need loan in LLC...). I'd really appreciate it if someone could enlighten me on what the differences/ramifications are. Both from the perspective of the borrower, and also from the lender's perspective. Thanks so much!

@Greg Dickerson “that's actually a security and crosses the line”. What does that mean?  Could you elaborate?

Could someone explain to me the ramifications of getting/giving a loan in the name of the LLC vs. as an individual/couple. Both from the standpoint of the borrower and the lender. TIA

@Samuel Garrett. First of call congrats!  On the tub, ....  WOW!  What were your final numbers in terms of sale, total rehab, rental, etc.?  What did you decide to do with it - rent or sell and why?  What would you do differently?  And, yes, please share your core 4 if possible.  And, how did you go about FINDING your "Core 4".  Thanks and congrats again!!  What are you working on now??

Per the podcast I just watched, Matt says go to a small community bank who loan their own $. Not a larger bank that will resell the loan. I forget the term, but you may want to do a search for it. Good luck and nice job!!

@Sergio Rios, @Kai Hodge, I think Kai Hodge has a great idea, and it's definitely worth a shot.  Very low cost to try it out and test the market.  Give it a try and report back.  Best of luck.  Hope to hear how it goes.

@Crystal Hoover Thanks for the explanation Crystal.  Again, MY opinion is that I would go for it.  If you have a deal that looks and the seller is willing to owner finance for years, do it.  As I said, a lot can and will change in 5 years.  If you want, discuss your concerns with them and let them know that if you can't refi (which I sincerely doubt), then you would continue to make payments to their heirs.  But I really wouldn't worry about it.  There's no way to predict what will be happening in 5 years.  To me, it sounds like you are an excellent credit risk, and even more so in 5 years if things continue as they are.  Best of luck!