Mortgages for LLCs with personal credit under 680 are tough and expensive, and under 640 are typically not really economically practical for the borrower. 

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

An attorney that practices real estate is a good choice, an attorney that invests in real estate is a better choice.

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

How do you really hold yourself or others accountable in practice?

@Brian Rocha It’s clear why most lenders insist on including rehab funds in the loan, and all of our partner banks follow this practice for fix-and-flip loans to minimize risk and meet securitization standards.

Practice analyzing deals, explore surrounding markets if NYC feels too competitive, and stay persistent, closing your first deal takes time but is well worth the effort.Good luck!

CoghillWe’ve used AppFolio for many years to manage a large portfolio, and while onboarding can be thorough, it’s primarily to ensure compliance with financial and legal standards.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

These homes may be dated, but they can be decorated to a high standard.