All Forum Posts by: Stian Birkeland

@Bjorn Ahlblad Ahlblad... swedish? Yes, cool to see another from the nordic countries here. Great to e-meet you! I think if you can buy a new, single purpose LLC, newly formed by the seller just for the intention to sell you will be fine. Due dilligence is If course done anyway. Think it might save a guy like me from going through a lot of red tape. I see others are doing just that successfully. Why not me? Anybody out there that has actually done a transaction like this?

@Patrick Liska This maybe true. Some states do, some don’t. I know the state of Ohio allows for this, for example.

@Rick M. You got it right. Buying the entity (LLC) is pretty normal. Although more common on larger transactions.

Hi. I am a foreigner living in Europe, but wanting to invest in multifamily in the US. I have been looking into the many advantages to buying the entity (the LLC) instead of the property itself. This would serve me in a number of ways: - Get me a legal entity to hold my asset. Shortcut to set up all systems I need to get a running start in the US. - A number of advantages with just buying the LLC. No transfer fees, defer property tax re-assesment, etc - Tax advantages when owning an LLC as a non resident. - Single member LLCs - for easier closing - single purpose, preferrably newly formed just for the purpose of selling the property. - indemnity for unknown liabilities. I see a few disadvantages. Financing may be harder to get. So I want to focus on motivated sellers and seller financing. Costly due dilligence in some cases. What do you guys think? Anybody here that has any experience in these matters? Stian

@Brandon Sturgill So, as far as I have understood it there are banks that allow for seller financing to finance the downpayment part of the financing. Some smaller deals may even be financed with seller finance only or by assuming the existing loan on the property due to a number of circumstances. (Like the property has to few tenants for a bank to give you a loan on the property or the seller is motivated to sell and will be willing to let you assume the loan (depending approval from the bank of course.) But distressed/mismanaged properties from mom & pop sellers is the general idea. 10-25 % financed by me, my investment crew, seller. The rest via traditional lenders.

@Mitch Messer You can find me on Skype, which I prefer. Have WhatsApp too. But have not used it much. Skype: Stian.birkeland

@Mitch Messer Michigan, Missouri, Texas and all other high growth states are of course of interest. As long as the numbers are based on the statistical facts and reports (employment, etc). Diversifying into several geographical locations makes sense to me. Looking to learn how the game is played in the US. Buy right, finance right, manage right. Want to learn how to set up my investment crew and looking to invest for the very long term. 20 years plus.

Hi. I am relatively new at this. Have done a few real estate transactions successfully before, but not in the US. The US is a really interesting market and I want to start investing in multifamily/apartment buildings and commercial real estate - especially real estate connected to the relentless growth of ecommerce. But my questions are simple. I want to grow and scale quickly. Strategy is to approach «mom & pop» sellers of multifamily, distressed properties with some sort of a problem, 10-25 % seller financing, rest bank loan, reposition the property after problem solved,refinance well, manage well and repeat process. Is seller still doable? I feel that it is. Which banks in Ohio, or nationwide allows for seller financing of the downpayment? What channels are most efficient for getting a decent deal-flow on these deals? Brokers, banks, online sites, etc? Mentors: Anybody that has done this successfully for at least 4-500 units in total, I am all ears. And willing to pay for your time. Because I know what it is worth. Kind regards, Stian Birkeland E-commerce Entrepreneur London, UK