All Forum Posts by: Steven Taylor

Hello Folks,

We have decided to hold an investment property in an LLC and are discussing financing strategies for the property and would like some advice.

Option 1: Get a commercial loan for the property under the LLC name and most likely pay a higher rate.

Option 2: Get a conventional loan under our name and transfer the property to the LLC.

We have heard the risks associated with Option 2 are:

1. The mortgage could be called because of a due on sale clause.
2. The property could lose its insurance coverage.
3. The LLC would not provide the protection we are looking to obtain due to a risk of "piercing the corporate veil" because we purchased it in our name originally.

I would appreciate any advice from folks who have first-hand experience with these scenarios!

Thanks,

Steven

Hi Tim, great analysis.  Massachusetts reamins hot, great economy and job growth.  

Hello, and thank you everyone for the kind words and following up on my post. Since this is my first property, I am interested in either turnkey or a property that needs superficial updates before renting. The primary goal is cash flow (residential). I can follow up on the budget via messaging. Thanks, -S

Hello, I am a complete newb to real estate outside of investing in classical REITs.

1: Located in the Boston Area

2: Investing goals: Cash flow, looking to invest in residential property to start within daily driving distance from Boston.

3: Fun fact..... the photo is old. I lost 15 lbs. in less than one month and have thus far kept it off and lost even more.

Thanks!

S