All Forum Posts by: Robert Ortiz

@Frank Hinck

Thanks buddy! I will

I am interested in building boat and RV storage facility. Does anyone know what a general cost for pole barn style construction would be?

Can someone provide me with some information about general costs for building storage buildings in the central Texas region.

I am looking to do mainly boat and RV storage.

Thank you

Bobby

@Jean H.

Ok, that is valuable information and I appreciate everyone’s responses. I will have to speak to my banker and see.

Thank you again

@Ronald Goodman

Ronald thank you for your input and I agree that in most cases looking for different options is a hood idea. I have dealt with and have established a great relationship with my current banker. My business partner has a lot of assets with this particular banker as well. For the time being and for the sake of ease, we will stay here for now. If things change, I will reach out to you. Have a great day.

V/r

Bobby

@Matthew Irish-Jones

Great response and I really appreciate the input. Since we are purchasing on quantities of over 1m at a time, our bank has agreed to longer terms. In Brandon Turners book "Rental Property Investing" I believe chapter 17, he references the clause you spoke of as well. Because of C19 I bet banks a bit more restrictive on the transfer to LLC right now.

I have purchased many homes for myself but never for investments and especially not through an LLC. I am not sure how I feel about an ARM.

Our bank wants us to close on all of the deals at the same time through one “group” loan.

Good morning all and I hope this thread finds you all well. To start off, my business partner and I are new to investment properties and I have a few questions about loans. We have started a separate LLC for this new endeavor and would like to invest in commercial and residential properties at a million dollars at time per the guidance of our Attourney. Our bank is saying that because we are buying these properties through the LLC and buying both commercial/residential properties that our loan will be "commercial" based. Because we have established good business practice with our bank, the financing is not an issue but he stated this would be an ARM to keep the rates low for a longer term of 20 years.

Is this what you all have seen? Are there other options that maybe my banker is unaware of that would be more beneficial for me? I am not sure that I like the idea of an ARM.

What are y’all thoughts? I appreciate your time and responses.

Bobby

@Lance Langenhoven

I too am in Texas and am in the process of doing the same thing. I am a full time firefighter that just finished my Home Inspection schooling. I was lucky enough to find a good piece of property on a major highway. After speaking to a buddy of mine who owns a site prep company, I am looking at about 200k in improvements to get the land in proper gradient for the storage (outside) usable.

I will definitely be reading your write up and look forward to reading more in this thread.

Bobby