All Forum Posts by: Maurice Ilao

Great thanks  

@Henry LiChiundefined

Hey everyone, 

I was presented a property that has two 4 plex’s on one lot. Would that be considered an 8 unit and would I be eligible for a commercial loan rather than a traditional mortgage loan? If so, then I would have to calculate the value of the property based on its current numbers rather than comps, correct? 

I currently dealt with single families and a duplex, I’m trying to learn more about  multi families, so any information you can add would be appreciated.

Great info on this discussion as I am possibly shopping for a property manager too. I’d also like to add, how accessible is he/she? Do they prefer text, email or phone call?  Me personally I get so much junk mail combined with personal and business, I prefer a text message or a phone call with voicemail if I’m not available.  Hope that helps even a little. Good luck

Hahaha so true. 

Interested in this property. Please send me more details. [email protected]

@Larry Fried thanks. I was thinking the same thing. There was also a post I just read about the “due on sale clause” and how banks are acting on it. 

Thanks Tasheana. I tried to PM you but the site is giving me an error message. 

Thanks for the info. 

Just closed on a turnkey property in Indiana and need advice on creating an LLC. Anyone here have a good lawyer to help create one for out of state investors? Do I really need to have an LLC if I currently only have one property or should I wait till I accumulate more? How much does it typically cost to set it up?

Michael, 

I definitely understand what your going through. I live in NY and have a crazy job schedule. Sometimes I work nights, sometimes days, sometimes I even work doubles. The choice for me is simple, I'm going turnkey to begin my investing career. At some point I plan on getting a team surrounding the areas Im invested in and use the BRRRR method to grow and scale the business. Choose what works best for you. Good luck.