2012 college grad seeking advice on structuring first deal
I've been interested in REI ever since I read Rich Dad Poor Dad 3 years ago. I will be graduating from LSU this August and will be working for a national insurance provider as an employee benefits rep. It's a base + commission job.
I'm wondering how much money you all think I should have before I pull the trigger on a 100-150k home in a nice area of Orlando, FL. I also would like to establish an LLC to shelter the property with separate LLCs for separate properties thereafter. Who has had any experience with that? I'd like to obtain a mortgage in the LLC's name w/o being personally liable despite a strong credit score. How much money for a down payment would I need and would I need any additional cash in the LLC account as collateral for the note?
Thanks in advance,
David