All Forum Posts by: Naveed Mahboobian

I think it depends on the lender, the type of loan, and their guidelines. In my experience with Bank of America, they have made applicants close several credit cards even though they were paid off every month and contained zero balances. The minimum payments for each card, even on the accounts with zero balances, were used in calculating the DTI ratio. BBVA Compass also does the same thing.

@Johnathan Alesso, I'm not sure yet. I definitely have an interest in both but I don't know which direction to go in right now. 

Thanks, Brian.  How did you get your start in investing?

Hi everyone! My name is Naveed and I'm a native of Los Angeles, California. I joined BiggerPockets in order to gain more information on real estate investing.  I'm currently an attorney as well as a real estate broker, but I knew from several years ago that I would eventually want to invest in real estate.

I joined BiggerPockets because it seems like the perfect place for me to learn more about the world of investing and how to get started.  My biggest interest is in the area of financing, as this is the are that I would like to learn the most about.  As one example, I hear stories of people buying properties with "no money down" and I'd like to figure out if there are any legitimate ways to purchase a property in that manner.  I'm always skeptical, but hopeful that I can learn some secrets on here.

I look forward to learning from everybody on here, as well as helping those who can use some of the knowledge that I have acquired in the field of law.

Depending on your needs, you could either do a limited liability company, an S corporation, or a C corporation. Each of these entities has its advantages. I would need more information on what you're looking to accomplish by setting up an LLC or corporation.