All Forum Posts by: Matthew Araujo

Depends - she lending money for entire purchase then you buy it and she issues you a note and mortgage. If it's down payment only then put her as member of LLC so you can get financing for remainder

Hi Chris, thanks for the response. She would fund the downpayment, and I'd cover Rehab, holding/closing costs. Think it's best to keep her on the LLC too.

@Chris Seveneyundefined

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Hi everyone, I'm in the process of setting up my first LLC. My mom is lending me some money for my first rental. Would it be beneficial to have her as a member of the LLC, or should I just run it as a single member? What are the pros and cons to either scenario? Thank you!

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Hi everyone, I'm in the process of trying to acquire my first rental. I'm located in NY, and looking to invest in Pennsylvania. I'm unsure of whether or not I should set up my LLC in NY or PA, or if it's necessary for my first property? Any feedback would be greatly appreciated, thanks!

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Quote from @Dave Skow:

@Matthew Araujo- if you mother has income / decent credit and low debt- why dont you ask her to be a co borrower with you ? or get another realtive to be a co borrower ? if the funds from your moms heloc can be used to pay 100% of the proeprty - this is an option too but getting future financing should be planned out

Thank you !

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Quote from @Jeff Schemmel:

Well, if you don't need the cash for DP then your mom taking a HELOC shouldn't make much of a difference. however, she could act as a co-signer for you to get into your first deal. This is possible, but you'd need to discuss it with your lender to see if it would help you get your first deal. a HELOC could provide additional cash for you to invest together and put some sweat-equity into your first deal OR to help you be more competitive but I would try to do your first deal without someone else's money if you can :)

Thank you, I'll look into that option. Just a little hesitant.

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Thanks you @Ben Einspahr, I appreciate the advice!

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Hi everyone! I know everyone's situation was different for purchasing their first rental. I'm currently entering my final year of college, and have been trying to get pre approved from the bank but am having some trouble. I have enough saved for the market I'm looking at, but having a part-time job won't qualify me because the bank needs to see full time employment for steady income. Should I wait until I'm working full-time, or look for other options? My mom said she'd be willing to take a HELOC on our home, so I wanted to know if anyone who has done this recommends it when starting out and some other ways you got started in real estate. Thanks!

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Hi everyone, I'm a recent college graduate and new to the real estate game. I just got pre approved for a loan on an investment property and I'm eager to grow and scale over the next few years, but unsure of what the best route to go is. I plan on doing it through an LLC at some point, but is it worth it at the start? Does doing it through an LLC allow for several loans? What are the pros and cons to an LLC or under your name to start off? Thanks and I appreciate any tips, advice, and feedback!

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If you purchase your first property using a conventional loan for an investment property, can you purchase your second one using an FHA loan? If so, is there a time frame between the two? Thanks!

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Philadelphia, Pennsylvania

Great, thank you!

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Philadelphia, Pennsylvania

All Forum Posts by: Matthew Araujo

Matthew Araujo has started 6 posts and replied 11 times.

Post: LLC Partnership or Sole membership

Post: LLC Partnership or Sole membership

Post: Llc for first investment property

Post: Best way to buy your first rental

Post: Best way to buy your first rental

Post: Best way to buy your first rental

Post: Best way to buy your first rental

Post: Scaling Real Estate Business

Post: FHA and CONVENTIONAL LOAN

Post: First OOS Investment