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All Forum Posts by: Ravi Patel

Ravi Patel has started 5 posts and replied 11 times.

Post: Buy my first property on LLC or Personal ? Loan issues?

Ravi PatelPosted
  • Investor
  • Astoria, NY
  • Posts 12
  • Votes 1

Hello everyone. 

I found out about bigger pockets a few weeks ago and I am addicted to the podcasts! So informational! Thanks Josh and Brandon for all this :) 

On to my question:

I am a first time real estate investor - kind of recent post-grad (4 years out) and paid off all my loans and finally saving some money. 

I am working with my brother-in-law to get into buy and hold properties. However, we have seem to be getting some conflicting information regarding how to buy first property. 

The agent he was just asking, for advice, said it's better to put the first property on one of our names because of the better loan rates. However, we already incorporated an LLC and I am inclined to put the property on there? Are interest rates really that different?

We aren't going for huge properties either. Something along the lines of 50k-100k for our first property and we would put 20% down. We all have great credit 790+, and no debt in our names. 

Wanted to get some advice from seasoned veterans on here :) Really appreciate everyones help. Thank you.