The first purchase is the hardest.

Hello everyone,I'm seeking advice on coordinating a rental for a property I recently purchased in the 48602 area.

Yeah there isn’t a forem for foreclosures, but as this is being purchased for cash it is a brrrr too.

I am worried that purchasing the property and then transferring it to the LLC will trigger a due on sale clause that could cause issues after purchasing the property. 

I recently had a conversation with my lender and mentioned I would be purchasing a property as my primary residence. 

Can someone please clarify this for me - if I take out a HELOC on my primary residence to purchase an investment property would that have to be for 100% of the cost of the investment property or can I just take out enough for a down payment? 

They still have the receipts/numbers from the money orders purchased at the post office so they were able to track them, as was the post office.

@Jacob Sherman I’m typically raising $100K - $400K for the purchase and repairs of a SFH or smaller MFP flip (short-term).A syndication seems like overkill, and some investors don’t want to deal with a K-1 because it’s not worth the extra accounting expenses for a short-term deal.

It is a four bedroom, two bathroom, split level house needing approximately $20-30k of repairs.The purchase price is $177,500. 

Purchase price: $210,000 Cash invested: $21,000 2/2 condo, in a 314-unit complex. 1.7 miles from the beach, great location.