Philip Katz
Financing commercial property
I’m looking into buying a 5 unit complex. I will be partnering with 2 other people in a LLC.what factors go into securing a loan for such property? Does individual credit and financial records matter? Or can we get a...
John B.
HML to LLC, then refi to 30yr bank loan for buy and hold
In the following scenario:-if I get hard money loan thru my LLC for purchase and minor rehab-then want to refi with bank for a personal (not thru my LLC) 30yr fixed loan to keep for rental propertyCan I accomplish thi...
Matthew Porcaro
How should I take rent payments?
Hey Guys - what is everyone preferred way of taking rent payment? Only own two units currently, so I don't need a robust system just yet. How should I have my tenants pay me? Up until this point I've just been taking ...
Eric Sammons
Personal vs. Business Loan
Hello,
I recently applied for a Line of Credit at a traditional bank to purchase another SFH rental. I currently have a SFH rental that's completely paid-off, and so I was going to use that as collateral on the LOC. ...
Stephen Brown
Denied for a Business Credit Card
Hello BP,I set up an LLC for my first property back in December. It is a single member LLC and I quick claimed the property from my name to the LLC's. I will have a separate bank account for the LLC, and I have separa...
Simon Stahl
Process to move property to LLC without piercing the LLC
What would be the proper process to purchase a property in my personal name and then move it into an LLC. My guess would be that first, I'll purchase the property in my own name. All expenses are being payed from my p...
Alyssa Hergenroeder
Young, looking to buy/live in a flip house
I am 20 years old, currently working in a hair salon making decent money but just starting out. My income looks small, but my tips make up for it big time. How do I get approved for a loan on a house when my income "L...
Carl Cheung
Private lending security question
Hi, I was approached by a friend with an opportunity to invest. His plan is to get a loan from me (promissory note) and then use the loan as the down payment from the bank. After talking to an attorney, he explained f...
Julia Amelyan
Tenants depositing rent into your account
How does it work to have tenants deposit directly into your bank account? There is a new law that they have to show ID and SSN? Most of our tenants are Hispanic and do not have ID or SSN. Is there a way to get around ...
Wendy Thurst
Commercial loan for investment home purchase
Looking for advice on getting started with first commercial mortgage in our LLC. Been in property mgmt business for 2 years and looking to put properties in the LLC (out of personal name) in 2022. Thank you!