All Forum Posts by: Maximilian Benjamin

I purchased my first property (a multi-family) in february of this year and I purchased it under an LLC. I used a mortgage broker who was able to find a bank willing to do this transaction (US Bank). I asked my broker about a month ago what the rates were for purchasing a similar property like I did in february, again under an LLC, and he was having a difficult time finding any bank willing to do so.

I've talked to my lawywer who also owns rental properties and he agreed that any eviction proceedings need to be handled by a lawyer. He has also stated that you could have each property in an LLC or multiple properties in one LLC, or one LLC to handle the rental aspect while the other holds the property. He has stressed that the most important thing is to show separation of your private/personal accounts from your business accounts/transactions, and use your LLC to pay for any personal expense.

I've been reading topics off this website for months and just recently joined. I've also just recently purchased my first rental and live in Columbus. Looking to network and will try to go to some REIA meetings in the area as well.