All Forum Posts by: Ron Willbanks

Thanks to all for your feedback.  I talked to my lender about this.  He didn't think it really mattered.  I ended up writing that I was going to use the money for real estate investing -- initially with MF as a passive investor this year, another MF next year and 1-2 SFRs.  He added that if I had a specific property identified, which I do not as of yet, then I should add that detail.  Otherwise, the underwriters are going to look at the deal the same as if I was using the funds for debt consolidation or home improvement.  

Any last thoughts?

I am refinancing my home to get some cash out so I can have more capital to invest in real estate.  As part of the paperwork, my lender is asking for the reason I am refinancing. How will the lender react if I explain I am marshaling capital for real estate investing?  

Many thanks to you all for the feedback. BP is really a great place for sharing. I hope to pay it forward soon. Cheers!

I have decided to become a passive investor in MF. I am just starting out and my research indicates the syndication will create a LLC so there does not seem to be a need for me to create one. That said, should I open a business bank account in my own name as a sole proprietor or create a DBA to protect my SSN? All I am providing is capital into any deal for now... Your help is appreciated.