All Forum Posts by: Rohan J.

@Dan Genzel I'm curious, what's the best structure for acquiring a property with capital from 25 different people? Creating an LLC and then giving each of them an equity % of it, while they all stay silent and you act as manager?

Genuinely curious on the details, as that seems like a high number of people to get involved. 

Would love to hear the best way to structure something like this to get something done quickly without having to get approvals/decisions all the time from 25 people. Also, generally speaking, wouldn't forming the entity/getting everyone on-boarded take too long to close the deal on time (assuming its a good deal that's in demand)? 

@James A. when you say P&L numbers are generally fluffed up for commercial properties, about what % would you say they are fluffed up? 

10%? 20%? Just trying to build this into my model for analyzing expenses. 

Thanks!

@Jeffery Neal were you able to find an attorney & accountant that understands the MO market? I'm in a similar position with my KC properties.

Hey Ryne Valerio - what kind of terms are these typically ? And do you mean just paying double closing costs? When would the balloon usually be?

Err, how I could get creative with a local bank*** not private money

Great info on this guys . What websites do you like to use for job growth , population growth, new commercial development, etc?

Andrew Postell thanks for the info - this makes a lot of sense. I guess it looks like none of the local banks I've spoken with in Missouri are portfolio lenders. Quick question: have you ever seen portfolio lenders lend money in this situation BEFORE one buys the property, assuming the properties are already flowing but the person interested in purchasing doesn't have sufficient income to cover? I've bought like 7 rentals and am beginning to get declined by traditional lenders as I'm too highly leveraged (many of these 7 don't have enough history), but I'm interested in purchasing a $400k 17-unit package in MO that already is generating like 7.5k/month. Any thoughts on how I could get creative?

Interested in this as well, as I'm interested in quitting my job and refinancing in a year or so. Do only private lenders work in this scenario? If banks do this, how much history do they generally need to see on the rental property.. 2 years?

Hey Wes Brand - what's the difference between seller financing vs rent to own in this scenario?

@Michael Swan

Great story! I have a few properties in CA that I am trying to 1031 with a few rentals in the midwest.

Any recommendations on who to work with in CA to do a 1031 exchange for swapping a California Rental for a few properties in the Midwest? Also, can I swap 1 $400k CA property for 5 $80k properties in OH?