Patrick Butler
Conventional Loans with an LLC
I am getting my lending relationships setup, so that I can do my first Long Term Rental. While talking with a broker, he let me know that if we do a conventional loan, I will need to personally close the loan and the...
April Birdsong
LLC for Business and LLC for Property Protection Question
I have just purchased 1st rental, and under contract for my 2nd...Yeahhhh I am very excited. Both in my area. So I am interested in managing them myself in order to learn. But now come the details.Question #1: I do no...
Mordy Chaimovitz
My attorney says I am not allowed to make an LLC
Ok. I Recently closed my 1st deal on 2 SFH's with a conventional loan. I wanted to transfer the properties into an LLC but my attorney says that technically it's against the clauses in my loan to transfer the loan to ...
Peter Hoang
Transferring Personal Name to LLC
Hello everyone,I tried searching the forum for this answer but had no luck. I just got my first property under contract today and plan on BRRRRing it. I have my LLC already set up and am getting rates from two lende...
Belinda R.
Piercing the corporate veil
I just formed an LLC and opened a business checking account. When flipping houses I use my Home Depot credit card to make purchases for supplies, appliances etc and pay off once I sell. My question is since this Home ...
Jackie Linne
Taxes question for LLCs
I recently created a Single Member LLC, mainly because I don't have trusted partner(s), so I didn't have a choice.Is it true that SM LLCs do not have to report federal taxes and all profit/loss activities should be re...
Vivek Nangia
LLC Formation and Associated Tax
Hey everyone, thanks for the help in advance. I'm new to the forum and looking for some advice on LLC formation. I have an investment property purchased several years ago that I will be putting on rent in the next mo...
Eric Ngo
Borrowing against equity after cash purchase
I am looking to buy a rental property in cash from a wholesaler and then turn around to borrow the against the equity on it. How quickly and easily can this be done through conventional financing? Are there better s...
Mahesh Karthik Duraisamy
LLC loan vs conventional loan
Hi Everyone, We are three buddies starting out the investment together and have an LLC registered.Now that we have identified the property to buy ,we reached out to AXOS and were given the option to take conventiona...
Nathan Siemer
Best banks for an LLC
Hello,
We are in the process of setting up our LLC and are hoping to get some pointers on good local banks for small businesses. Our business will be focused on property development investments and buy and hold rent...