All Forum Posts by: Michael K.

@Caleb Webster, will do!  Hoping to be up to visit my sister sometime in the next few months so will definitely reach out.  Thanks!

Mike

Hey @Caleb Webster, thanks for the message!  Yeah, I'd love to talk KC sometime and hear about how things are going with out there, as well as in pdx.  Thanks!

@Allison Mueller  Thanks Tal! Would love to hear more about it.  I'll reach out and connect with you.  Have a good week!

Mike

@Jad Boudiab; @James Wise,  Thanks to you both for the info!  Much appreciated.  

James - that's been my experience as well that most banks won't do that. I've run across a few banks through brokers in some of my other transactions that would do LLC vesting for a SFH on a portfolio basis--usually with a .5% (ish) interest rate kicker. Their geographic scope was limited though.

Jad - I totally understand what you're saying.  I might reach out to you to talk more specifics.  I do have some other investments and a pretty decent track record as a landlord and borrower so I'd be interested in nailing down whether they have any hard and fast criteria on that.

Thanks again!  Really appreciate you sharing your perspectives!

Mike

@Abi Wegman - Have not connected with First National yet

@Abi Wegman - Hi, I spoke to someone at US Bank today. They told me the LLC loans are typically commercial loans, but that they do sometimes do LLC SFH loans as a portfolio product on an exception basis. They're going to get back to me with some more concrete guidelines. Happy to share when I have more info!

Hi @Matt Rutter and @Sean Dawson, thanks very much for the recommendations!  Much appreciated.  I'll look into their programs.  If either of you have a particular contact at those banks that you've worked with and would feel comfortable referring, feel free to shoot me a PM.  If not, that's totally fine.  This is super helpful.  Thank you!

Hi everyone,

New investor in Cleveland and happy to be a part of this forum! Wanted to reach out and see if anyone has a recommendation for a lender that will do an LLC vesting on a SFH investment property. If so, I'd love to hear from you. Feel free to reach out and connect. Thanks!

Mike

Hi @Jesse Rivera, nice to meet you and thanks for the invitation!  I'm not in town that weekend so I won't make this one, but I'd love it if you'd let me know about future meet ups.  Would love to come!  

Hi @Trevon Hutchinson, @Kundan Chand, @Anthony Andrew Young, @Jay Hinrichs, @Neal Collins, @Mathew Wray, 

Thanks very much for all the support and info!  I really appreciate that!  

Jay- thanks very much for the info about the Rarebird.   I'll add that to my list of things to check out.

Neal - currently, I have a couple SFH rentals in Portland that are rented out. Overall, they're pretty stable and doing well. Planning on holding on to those for awhile. My wife and I have family in Portland and may move up to the area to be closer to them in the next few years. Definitely still looking to continue investing in the area. We've been looking in some midwest markets as well to try and add a couple investments that cash flow a bit more than what I've seen recently in Portland. We were pretty close to going in on a duplex in portland a couple weeks ago, but couldnt get the numbers to work out right.

Anthony - would love to talk with you more about your interest in the multi-family space.  I'm really interested in looking at a project like that myself.

Matthew, Trevor, Kundan - Thanks for the warm welcome!  I'd love to connect with you guys and share resources.  I have a good agent I've been working with and also had some good luck with a local lender.  Happy to share.

Hope everyone is having a very happy thanksgiving!

Mike