Newbie from Camp Hill, PA

[Ryan Rudy]

Hello,

My wife Megan and I have wanted to get into real estate for the last couple of years and decided to finally take it seriously. My background is in accounting and Megan works in the medical field. Aside from purchasing three personal homes we have minimal experience in real estate. We have been listening to podcasts, reading guides, watching webinars and digging deep into the BiggerPockets bookstore. We currently have a meeting early September with a local bank to present our business plan and to discuss financing options. We are not too worried for traditional financing but would like to obtain a LOC to increase our cash velocity for purchasing rental properties. If you have any experience presenting a business plan we would love to hear your experience!

We love the energy that BiggerPockets has in the forums and throughout the material.  

Thank you,

Ryan and Megan

[Ned Carey]

@Ryan Rudy welcome to BP.

The number one question you need to answer before you meet with a banker is; "will you hold the property in your own name or in an LLC?" If you hold title in an LLC or other entity you will need entirely different loan from what you can get personally. Make sure the banker knows this or you may think you can get great loans that you won't actually be able to use.