Newbie trying to get started

6 Replies

Hey guys/gals, I am extremely interested in getting started as a real estate investor. I have done my due diligence and analyzed several properties in the Fort Leonard Wood (65584) area, that fit my criteria. One of the big questions I have is how to structure a 3 way partnership or if that is even feasible? After doing some research I have come to the conclusion that it would seem advantageous for us to creat an LLC. Does anyone have any experience with this? Any advice would be much appreciated. -Robert Kough

@Aaron I have done some research through bigger pockets. Specifically, the argument and rebuttal surrounding the use of LLCs. The author for LLCs mentioned that if you are the sole owner of the LLC it is possible to get personal financing rates but have the entity own the loan. How common is this?

It is fairly common but not all lenders do it, it will be harder if there are multiple owners of the LLC especially if they are not immediate family.

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@Aaron K. thanks. A follow on question I have if I were to utilize personal financing would be, should I use my VA loan? My course of action would be to purchase a multi family using my VA, live in one of the units until I move duty stations (about 2 years) , then keep it as an investment property. Any opinion on that?

Using your VA loan will probably be your best option, but I don't think you can use it in an LLC or with other people aside from immediate family members (Spouse, children etc.)

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