All Forum Posts by: Mike Ganske

I'm new here so I may be way off the mark, but I live in the Illinois side of St Louis and have been wondering this myself as I look at properties.  Could the higher higher property taxes in IL be driving away potential buyers? 

@Andrew Postell @Sam Craven Thanks for the advise! This certainly helps.

@Anthony Gjolaj I’m working to form the LLC now. I’m looking to purchase a place usIng hard money, rehabbing it, rent it, then refinance it. No relationships with banks yet. Still new but that won’t stop me.

New to REI here so any advice is helpful. I understand tend the importance to own your rental in an LLC, however it can be difficult to get banks to give you a loan for a house owned in an LLC. I would prefer to not transfer the property to the LlC after the fact (I’d hate to have the loan come due for violating the terms ). Does anyone have recommendations on how to get loans for a house I want to put in an LLC? Are there certain institutes I should go to or a process to follow? Thanks for your advice!

Does anyone know of any REI meetups in the STL area? I live on the IL side of the river but that won’t stop me from meeting up with anyone on the MO side.