All Forum Posts by: Trey Reese

I'm working on a deal using a private money lender to buy a SFH. I'd like to use the private money to purchase the unit and then refinance with traditional financing after 12 months to get a more favorable payback schedule.

So my question is this:

Will most banks apply a different set of standards for LLC owned property that is cash-flow positive (as opposed to a residential loan)?

I'm targeting an 80% LTV deal - - is this reasonable?

This is my first deal, so I'm treading carefully.

I'm putting together all the nuts and bolts of my fledgling business as investor in rental properties (LLC, Business accounts, putting together initial investment funds, etc). Primarily focusing on SFH's with a goal of 10 doors within the next 10 yrs. I'm in the process of setting up my LLC in Georgia (I am a Georgia resident), and my properties will be in Georgia, but I'm also looking at properties in other states (PA, IN, etc).

So, riddle me this:

-Will I need to obtain a local business license in addition to my LLC?

-Will I need to obtain a business license in each state that I own a property (or at least have a contract with a Property Management Company).

-Are there any specific licenses that I'm overlooking if I'm acting as an investor, only?

Thanks for the benefit of your experiences!

@Donnie M. - thanks for the info.  I'll put it on my calendar.

Does anyone have an up-to-date status on a Columbus, GA REIA meeting. I've found several names and contact info that seem to be out of date. Can anyone confirm that a monthly or weekly meeting is happening - -- where?/When?

Thanks

I'm exploring BiggerPockets to learn about buy and hold housing.  I have little capital, but want to start building income from rental properties.