
9 December 2024 | 6 replies
I know some mentioned about developing banking relationships and I totally agree with that, so here is what you do. 1) Open a business checking account in the name of your LLC to hold the assets. 2) Deposit your cash into that account to fund the real estate purchases3) After owning for 60-90 days, talk with a local lender about a line of credit against the 2 properties at 60% LTV. 4) After about 30-45 days, have the line open to use if you need that liquidity that you used, but until then you are not paying 7% interest on nothing.

14 December 2024 | 42 replies
If my husband and I were to start over again we would buy higher quality assets and not be focused on immediate cash flow and unit count like we were when we started this after exiting a fairly decent sized small business.

16 December 2024 | 17 replies
Not every trailer is built the same nor is every park in the same location, but more often than not they are a depreciating asset.
13 December 2024 | 4 replies
You will be able to find a co-op apartment that allows rentals but whether you'd be able to close on it is another question.Co-ops with poor financials will have trouble selling units to borrowers using a mortgage.

13 December 2024 | 2 replies
Your best approach is to assume the loan in your personal name and explore legal and financial strategies to integrate your entity afterward.Feel free to reach out with further questions—I’d be happy to help!

11 December 2024 | 1 reply
Enhancing the property's curb appeal and ensuring well-organized financial records contribute to a successful sale.

13 December 2024 | 5 replies
It also positions you to work more effectively with lenders and partners who want to see a professional financial setup.How are others here organizing their finances?

12 December 2024 | 2 replies
Stanley - I would suggest that you go have 3-5 conversations with lenders and understand how much they are willing to lend to you given your financial situation.

12 December 2024 | 7 replies
Don’t out more leverage on another asset since we are talking REI.

12 December 2024 | 4 replies
It’s great that you’re bringing your property management experience into real estate—your knowledge will be a huge asset.