All Forum Posts by: Ryan Keenan

@Wenda Wang

This problem has always frustrated me, what you you say is the best option? Bigger pockets podcasts says go to local credit unions and banks but I've run into the same issues 6 months to a year. Any idea on how investors can move so quickly buying 10 plus properties a year? Doing the standard conventional way at 2 a year will take 5 years.

I'm working with a non qm lender but the best they are offering is 80% purchase and rehab combined. I may have a better chance in catching big foot then finding this lender with no seasoning based on the new ltv.

Are there any portfolio lenders that exist in ct that do 75% the new ARV under 3 months seasoning

25 to 30 year fixed?

Not loan to cost

Not interest only

@David M.

Thank you for the response definetly gave me some great insight. Forming a LLC has been such a headache for me using conventional financing. You really can't do it correctly only by just transferring title and everything and hoping it doesn't trigger the due on sale clause.

Since I spent about 500 to open the LLC , at this point should I just keep it and take out a umbrella insurance for all 6 properties? Going forward I'm going to establish the loan in the LLC from the start.

I talked to my insurance guy today (state farm) and he said it was strange how the lender would not allow the transfer of insurance to the LLC name, however he does have clients with LLC and a rental dwelling policy.

There really is not point to transfer title and have insurance and the loan in my name. In your opinion is it better to transfer the title or just leave it alone?

Thanks!

Ryan

@Derek Dombeck

Ok I understand now. Thanks!

@Derek Dombeck

Thanks for the response, I got a EIN number for the llc and a buisness line of credit. Why doesn't it build buisness credit?

Hi BP, trying to change the title of my rental property out of my name and into my LLC. The bank said that it was fine however they will still report to my personal SS# and the insurance must stay in my name not the LLC.. My question is this providing any benefits or protection for myself other then gaining buisness credit?

Thanks!

Ryan

@Tomas Satas

I like cozy, you can setup automatic late fees.

@Elijah White

I have a cesspool that just went out and have to replace with a septic system all while under contract on another property. I feel your pain. Keep pushing through. My 2 cents.

@Devin Redmond

Hi Devin, I bought a house in a very nice lake community in CT with a 500 gallon cesspol. There a 3 adults living in the house and i had a plumbing situation where the toilets stopped working.. Turns out the cesspol was full after pumping it 8 months ago. Would you suggest pumping it every 6 months? Are there any signs that its failing? The property is super small so i cant imagine what the costs are to put a septic in.

Thanks !

Ryan

@Tommy Dahlborg

Use your fha loan and buy a duplex or triplex so you can live rent free and save save.

Get your credit and personal debt in great shape if it's not already and apply for multiple unsecured lines of credit while you have a job. These lines are very helpful for using the brrrr method.