All Forum Posts by: Michelle T.

Thanks @Franklin Romine I guess I've got more reading and learning to do before I can "jump in". Now I'm wondering if I should have even created the LLC...

Thanks @Lynn McGeein!  

Hi All!

Looking for some guidance/advice please. I would like to purchase rentals. I've set up an LLC and then went to the bank to talk about my plan and see what finance options I have. The bank tells me they wont allow an LLC to have a mortgage and that the mortgage needs to be in my personal name... so I ask what is the point in having the LLC? then the business loan rep suggests perhaps the mortgage goes in my name but the rental agreement is with the LLC. Another suggestion was that I use a business loan instead of a mortgage. He is going to call some of his "friends" that are investors to see what they do and I thought I'd check in with you all to see what you think. Do I need to go to another bank? It is common for an LLC to own the rental properties and their mortgages right? or am I missing something...

Thanks!

I think I just found my own answer. The INREIA is having a presentation on Rental Property in Estate Planning // Asset Protection Planning which interests me so I'm going to plan on that :)   Let me know if any of you are going!

@Maria Rigdon  I hope you don't mind me jumping in here but I figure you may want to know this also.... Both the CIREIA and the INREIA are on March 10th.  I was thinking of going to one of them.  Do you have a suggestion which one? @Shawn Holsapple @Taylor Jennings @Ryan Mullin 

oh my goodness! thank you!  i have read some, bought a few others and will definitely seek out the rest on your list.

I am an Aussie/Hoosier! if I'm allowed to call myself that.  I moved here nearly 9 yrs ago and certainly call this place home. 

Thanks again!

Hello!

I am a full time Landscape Architect looking to transition my career over to the world that is Real Estate Investing. I have been lurking in the background of BP for a couple of months, reading UBG and listening to the podcasts in my car. I now have a bunch of books to read and a list as long as my arm of things I need to do to get started, this Intro being one of them… Check!

I have very little experience in real estate beyond the purchase of my 2 homes. The first ended up being a flip/rental, then sold and used the profit to renovated the foreclosure that we purchased in 2009 and live in now.

My current goals are to get my license, find some local networking opportunities, write a business plan and get this show on the road!

So much to do and very excited to get started!