All Forum Posts by: Sean Quinn

Quote from @Kenneth Jenkins:

Are you looking for SFR cash out refinance? Is this for one property or a portfolio? And final question are the properties rented and performing (dscr eligible) and have they been seasoned? With that additional information I can probably point you in the right direction. I'm not a lender but I am familiar with the lending landscape in Metro Detroit.

My apologies. This specific ask if for investment property to include purchase + rehab.  Would likely be a BRRRR situation or a flip. If a lender can handle then would be continuing to send business after conclusion. Hope that helps clarify some. Thanks for the reply

If you are a lender in Detroit and can do any loans less than 100k please contact me. Reviewing all options. Thanks!

Quote from @Joe Dillamore:

@Sean Quinn The majority of loans to real estate investors are done to LLCs, but they are underwritten using your personal FICO score and most require a personal guaranty, so the "corporate shield" won't apply. So as a general rule: "yes," you'll want to purchase through an LLC, but "no," you (usually) won't have less liability if the proverbial hits the fan.

Appreciate the response!

Hi Everyone,

I was told purchases through the LLC are best using paydex to prevent personal credit/financing being involved due to liability and risk. Wanted to hear from those that have experience. Wasn't sure if that gives a chance to "pierce the corporate veil" if personal money/financing is used and isn't completely separate.

Thanks!

Hello Everyone!

I’m new to BP and have been reading the forums. Lots of great stuff! I’m an insurance agent in CA but starting my real estate portfolio out in Detroit area for now. Im open to other states but starting here. I’m looking for those that are interested in working together to allow us to scale quicker. New investors welcome! Nice to meet you all!