There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

We also have a bank account at a smaller Chicago community bank, but there technology isn't as good to be honest.I think @Jonathan Greene's main point is don't step over dollars to pick up pennies. 

If your asset is older and/or smaller, you may have better luck with local community banks or credit unions.

Here’s a quick overview of potential pros and cons, along with general advice on working with hard money lenders like them.Pros:Flexible Financing Options: Rehab Financial Group often specializes in real estate investing and provides hard money loans for BRRRR deals, which may be a good match for your needs.Quick Funding: Hard money lenders like Rehab Financial can sometimes offer quicker access to funds compared to traditional banks, which is important for BRRRR investors looking to move fast on properties.Cons:Higher Interest Rates: Hard money lenders usually charge higher interest rates than traditional financing sources.

Federal Reserve Bank of Chicago - Points of Interest (p. 6)Federal Reserve Bank of Chicago - ABCs of Figuring Interest (p. 2)Federal Reserve Bank of Richmond - The Federal Reserve Today (p. 14)Federal Reserve Bank of St.

Just wanted to introduce myself and enjoying the Bigger Pockets site and forums.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

You’ve done the hard work building your wealth—now it’s time to make it work for you in a way that lets you enjoy life.Wishing you the best on this next phase of your journey.

When loans were called, was it due to specific triggers like delinquencies, insurance lapses, or low-interest rate portfolio loans held by smaller banks?

I wouldn't be able to buy them through a bank and wouldn't have had the opportunity to control the cash flow generated from renting the property.Brian Auburn, CA