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Updated about 4 years ago on . Most recent reply

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Joshua Gwaltney
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Investor Partners and Getting Pre-Approved

Joshua Gwaltney
Posted

Hi Everyone, my name is Josh Gwaltney. I am a rookie when it comes to real estate investing and looking for some advice!

I have found my first property (quicker than expected). It will be a fix and flip. I have 5 other parters that are going be apart of the deal.

My question is.. when it comes to funding a project with a with partners involved is it better to...

A. Create an S corporation and apply for the loan via the S corporation.

B. Apply for a joint loan with each of the 6 investor partners on the loan.

C. Apply for a loan as an individual and coordinate partner payments outside of the official loan.

Most Popular Reply

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John Duston
  • Accountant
  • Santa Barbara, CA
66
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John Duston
  • Accountant
  • Santa Barbara, CA
Replied

@Joshua Gwaltney

A. No no no no no. Please don't put real estate in an S Corp. It makes basis a huge pain in the but.

The rest I couldn't answer without knowing your personal situation

  • John Duston
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