Naoko Potts
Bank loan under LLC vs individual
This could be a question I should have posted under bank loan but since I’m still very green, I decided to post this question here. For my first property purchase, I’m looking into conventional bank loan. My original ...
Nolan Mahoney
Buisneess savings account or personal savings account?
Hello, Im starting my first house hack here soon and im debating weather i should sign up for a buisness savings acccount or start a separate personal savings account for my tenants to pay rent to. (im using Avail fo...
Ryan Keenan
Personal line of credit and creative finance
Hello BP, is there any problems with taking a personal line of credit out and seasoning it in your bank account for a few months then using it for a down payment and rehab?
Example : I take 50k out on a personal line...
Josiah Sia
Personal Account - transferring money to/from Business Account
Planning to close on our first investment property in the next month or 2 (If all goes well). We have a personal checking and savings right now. We will be starting a business checking and savings with a different ban...
Asher Knudson
Business Checking Or Personal Checking
I'm trying to get some answers regarding what kind of bank account I can use for my rental property. I have an LLC so I'm wondering if I can use my personal checking for my business or if I'm required to have a busine...
Alexandra Sales
LLC vs Personal Property finances and mortgages
Hi all I have a few questions regarding properties under LLC vs personal for buy and hold / BRRRR strategies...
Can a rental property be under our personal names (mortgage title/deed), but the bank account for renta...
Bienes Raices
Getting loans with an LLC--is it still possible
I've read about building credit with the LLC by opening accounts at Home Depot or Dun and Bradstreet. But the mortgage brokers I've called have told me you can't get a loan to an LLC. Furthermore they've told me they'...
Himanshu Singh
Tax advantages for STR/Airbnb owners
Hello All, Quick question to see what others are doing for optimizing tax advantages for STR. Background:We got a second/vacation home during the pandemic and now its ready to go online as an STR in the Russian River ...
Account Closed
Closing the deal...buy in my own name or as an LLC?
Hi BP Community,I am looking for my first deal and am in the process of researching S-Corps and LLC's. I was wondering what other investors do when purchasing a property. Do you make the purchase in your own name th...
Kyle Rice
Do banks factor in trusts or LLC when running debt/income ratio
I have been applying for new loans to buy another property but my debt to income ratio is high because of my existing mortgage on a 4plex. If my 4plex was owned by a trust or LLC would I still have this problem since ...