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Results (10,000+)
Joseph Collier New member into business banking
21 November 2024 | 1 reply
If anyone is in need of a better business banking experience? 
Tisa Grimes LLC Real estate
28 November 2024 | 1 reply
If you are looking for loans on real estate or a business lenders don’t necessarily care about the credit history of the LLC - they care about the performance of the asset and your creditworthiness since you will most likely have to sign personally.I have established multiple LLCs just days before closing on large loans for different assets, those particular entities barely existed and the banks did not care.If you are talking about pulling a business line of credit (like a HELOC, but against your business equity) then the banks like to see some history of revenue.
Don Underwood 2-1/2 acres of raw land
29 November 2024 | 0 replies
75% bank financing.
Michael Anderson Do we need to update existing leaseto an LLC if we move rental property to an LLC?
1 December 2024 | 9 replies
I am not sure the Tenant is so friendly, my property manager deals with them.If you have a PM, they should answer this question for you and handle the process.You should notify the PM and update your PM Agreement, W-9, banking information, etc.
Sam Lewis Why would hard money lenders trust someone they don't know?
2 December 2024 | 10 replies
Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.
Tiffany Da Silva Advice needed on real estate LLC business banking & Organization
21 November 2024 | 6 replies
You should have separate LLCs and separate bank accounts for flips and rentals. 
Ilya G. Using cross-collateralization as a method of down payment
28 November 2024 | 10 replies
It seems like a good strategy but would appreciate any advice and if anyone worked with banks/lenders that provide a service like that.Thank you in advance! 
Val Berechet Is it still a good idea to invest in Tulum, Mexico?
11 December 2024 | 101 replies
You can take a mortgage with a Mexican bank.
Sharad Bagri Bank account for real estate partnership
20 November 2024 | 3 replies
@Sharad BagriI would open a bank account at a local bank or credit union that will lend on the properties you are buying.
Collin Schwartz Trading W-2 for Self Management- 0-92 Units in 16 months!
1 December 2024 | 377 replies
I choose a larger bank (better rates), two local banks (less restrictions, and one in which I already banked.Step 3 (network with everyone): During my lunch breaks at work and in between changing diapers I would call/text anyone I knew or didn’t know to discuss real estate.