All Forum Posts by: Thomas Pae

@Tariq K Frantz If you don't mind me asking, how did your HML experience in OKC go? I'm also looking for a local HML but running into issues. Basically I'm being told that most local HML won't lend to non-entities. I'm trying to stay away from creating an LLC since the refi (trying to BRRRR) would be difficult. Any thoughts?

Hi All,

I've been looking into BRRRR properties within the OKC/MWC areas. Just got off a call with a local lender and he informed that if I were to get a hard money loan, I would need to create an entity in order for hard money lenders to even work with me due to various bureaucratic reasons. Does anyone know if this is true? Seems like an important detail that doesn't seem to get discussed often. Thanks in advance!

@Joshua M. Yes, I have decided on OKC.  Please DM me if you would like to discuss further :)

Wow, thank you all for the enormous help so far!  Currently getting distracted by my day job but will DM and follow up with everyone shortly!  

Hello!  I am looking to potentially invest in the Cleveland, OH area.  I was doing some research and the area looks great, but the one thing I do have a concern about is the limited number of major employers in the area.  It sounds like it's pretty centralized to a few hospitals (Cleveland Clinic) and large national companies (Walmart).  Does anyone have any recent experience, especially if it was a 1st time purchase, with buying in Cleveland?  I'm looking to purchase a cash flowing long-term rental.  If anyone has any recommendations for a solid team to help me do this out in Cleveland, please leave a comment or DM! :)

@Curt Davis apologies on not being more specific.  I meant the former, non-turnkey option.

Hello Memphis BP Community! I am currently analyzing a few markets for my first REI purchase. I live in a very expensive area, SF Bay Area, and thus have decided that OOS investing will be my best option. As the title suggests, Memphis TN is one of the locations that popped up in my research. I know the Memphis community was hot a few years ago, but is this still the case (just generally asking)? Also, does anyone have any recommendations in regards to building a solid investor-friendly team? I have no connections to the area, so any referrals would be more than welcome :) Thanks in advance!

Hello BP Community! I am currently analyzing a few markets for my first REI purchase. I live in a very expensive area, SF Bay Area, and thus have decided that OOS investing will be my best option. As the title suggests, Memphis TN is one of the locations that popped up in my research. I know the Memphis community was hot a few years ago, but is this still the case (just generally asking)? Also, does anyone have any recommendations in regards to building a solid investor-friendly team? I have no connections to the area, so any referrals would be more than welcome :) Thanks in advance!

@Michael Ealy that sounds great!  If you can connect me with him, I'd greatly appreciate that.  Please feel free to DM me his information :)

@Ben Day awesome, yeah that makes sense. I was also thinking of maybe opening up an LLC before purchasing my first property and doing all of my business through this LLC. Is this a wise option? I only know of a few high-level benefits for opening up an LLC, in general, but not sure if there are any other specific advantages for opening one up if I'm planning on doing long-term rentals.