All Forum Posts by: Christian M.

I've had this discussion with my investor friends and friends who work in the mortgage industry. From a financing perspective, you're right. Banks don't necessarily like to lend to LLCs. As a matter of fact, one of my investor friends had to quitclaim one of his properties from his LLC to himself in order to refi.

My loan officer tells me one of his clients has financed several properties in their personal name and doesn't put it in an LLC at all and just gets a big umbrella policy. That's how I have my two personally-owned properties set up right now (financed in my name and umbrella policy for). Is this the smartest thing to do? I'm sure many will have various arguments for both sides.

As for the DOS clause dilemma, yes, banks can and do call notes due, but from what people say from their experience is that if you keep your nose clean and pay your mortgage every month, they have no reason to look into who is on the deed. If you pay your mortgage on time every time, then it's "business as usual" and they won't have any reason to look into your account to see that the deed was changed.

However, the next argument is that if you buy the house in your name and quitclaim it to your LLC, there is the potential that, since anyone can see who actually owns the property, you can still be personally sued and your other properties may be part of that suit despite them being in the LLC (i.e. there is no smokescreen for the other guy's lawyers to have to sift through).

@Chris Adams : do you think if I wrote it, I could market a bootcamp for $997? ;)

Wow! Just a couple of weeks on BP and I've made new connections already! Thanks to @Tom Gunnison for hanging out and telling me about himself and his company! Will definitely be using you guys for help with financing some properties. And thanks to @Anson Young for sharing investing war stories (even though we're not old). I hope to continue to meet great people like you two on BP!

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envelopes: search for "envelopes" on eBay. They're $0.01 each with free shipping!

Hey, Tom. Thanks for the welcome.

To answer your question, yes, I have started investing (about 6 year ago sort of by accident). But now I have two properties I own myself and two properties I own with partners, and we are getting ready to buy two more at the end of this month.

We have a fix and flip property off the 25 and Hampden that is on the market (our first!).

My goals (as well as my business partners) is to buy and hold; however, as it turns out, it's getting more difficult to buy properties the traditional way so we are exploring other options as well as raising funds via the fix and flips (two pronged approach).

My other personal goals are to make at least one friend, and I mean a good friend, in each country of the world :)

How active is the BP community in Denver?

Hey, everyone! My name is Christian. I'm new to BP, but have been reading up on the forums here. Seems like a great community!

I thought I saw something about a monthly Meetup as well? It would be great to meet people from here.

It's good to (virtually) meet you all!