All Forum Posts by: Mark Culotta

Thanks for the detailed response. I guess my next question would be is there any way we could qualify for a conventional loan? We did get one quote from a local bank which aligned with your example, a 20 year with a variable rate. As I'm sure is the case everywhere, it is difficult to find houses that will cashflow in our market when analyzing with conventional loan terms, and near impossible if analyzing with a 20 year variable. Thanks again for responding. 

Hi All, I am one of three individuals hoping to purchase our first rental (single family or duplex) in the coming months. We keep getting different answers on which kind of loan we need and how to apply for it. We are all married, have great credit, and earn >$75k annually (not counting our wives). We plan on forming an llc but understand we cannot get a traditional loan to a brand new llc. Any advice would be appreciated. 

Thank you,

Mark