All Forum Posts by: Arpan Patel

You can always get the close and get the loan but then transfer title to the LLC for the protection. I don't want to get into a huge due on sale post but just know that it is an option. Good Luck!

Why go through all of that if you have it tied up under contract? maybe make your contract recordable as well and cloud title. I don't think it would be best to use an NCND but that is my personal opinion. Good luck!!

Best is probably to save and fix your credit. You have very little margin for error even if someone where to lend to you the whole cost of your deal. My recommendation is to play the long game where you save, learn and get your credit back so you can have staying power in this business. This business is rough if you haven't built in any margin for error. Good luck!

I think you also may find some luck in the market place section of BP. There are more people there who are looking for a specific deal. Good luck and let me know. I think self storage is a great game!

LLC would be my guess because as you said it is more flexible and for the tax treatment. I would also seriously consider meeting with an attorney and hammering out an operating agreement so it is crystal clear what the roles are. That is a cooks in the kitchen.

Make sure you are comfortable with the areas and have some boots on the ground who you trust that can look out for your investments from time to time. It's important to not be defrauded because you were investing from afar. Happy Hunting and let me know if you wanna know some more about Chicago (personal bias of course!)

Partnerships can help but be careful when using others peoples money for deals. It can go sideways fast. I would just find a way to cut costs and make some more money for now while I learned. That is the most sane strategy in my opinion. Happy Hunting!

Depends on your comfort level with the unknown. Just be careful of the risk of doing a huge deal but not understanding of how to manage the downside risk. Good idea may be to ask some apt guys in your area what they think. That may help you make a decision. Good luck!

Education. Try devouring the podcasts and see what strategy stands out to you and then go from there. Good luck!

It is something to consider but there are lenders out there who do refinance to LLC's but it will take a bit more research. The process will look more like a commercial deal rather than a residential deal. Good luck!