All Forum Posts by: Michael Nguyen

Hey community! So I am starting out in real estate. I am partnering up with a good friend of mine. We plan on creating an llc. However, from my research it seems as though getting financed for a property with an llc that shows no income can be difficult. I've seen alot of people say to just go through the conventional lending, and then quitdeed claim it into the llc. BUT I have also heard that it could trigger a due on sales clause, bringing the note fully due at any moment. So I have a few questions I wanted to asked this well educated community. Has anyone ever seen a due on sales clause trigger from an event like this? Also is this the way we should go? Or should we just establish our LLC and get financing through a DSCR lender? We eventually plan on adding more properties and its not whether we should or should not create an llc, I believe we are set on it. But being our first investment we are just unsure which is most beneficial to get a loan.

Or perhaps I am not considering other options, so I am seeking help from this wonderful community. Thank you in advance!

Thank you everyone for your insight. I will update you all on my FIRST investment! 

I am looking to start my real estate journey in the coming months. I've been doing a lot of research into real estate investments (BRRR, Fix and Flip, Multi etc.). My strategy is the long game, buy and hold, build equity and cash flow down the road. As I understand that there is not one best strategy. I don't plan on sticking to one method of investing however I do realize that some investors start with Single family and grow into multi-family. I would love to hear some of your thoughts and opinions on this.

Thank you to everyone that replied! You all have been extremely thorough and helpful. I look forward to maybe connecting with some of you in the near future. I greatly appreciate everyones time and contribution to this community. 

New to this community, heard great things. New investor looking to learn a lot. Thank you in advance. 

As I mentioned I'm a new investor. I am creating an llc with a couple friends as we go into this new endeavor. My questions is. When getting a DSCR loan whose credit score is the lender going to use? Will they require all members or just one?