All Forum Posts by: Charles Carillo

@Ibrahim Elvis

Yes, you would setup a LLC and in the documents; you will describe the roles of each partner. I would reach out to an attorney to have them assist you in drafting this.

In regards to the unit mix when you are purchasing an apartment building; it depends heavily on the market. What is in demand in your market? Each market is different.

@David Barton

I would suggest speaking to local banks and credit unions to see what they offer. You might also want to speak with a mortgage broker to see what programs they have available. You will most likely be purchasing the property in your own name since for 1-4 unit properties, it is usually easier to get financing in a personal name.

A multifamily real estate investor David Kamara visits the Global Investors Podcast. David Kamara began his real estate career by investing into a duplex and has since grown and now invests in large multifamily projects like apartments and townhouse communities. This episode highlights the benefits of duplex investing as a great way to launch one's real estate career; as it offers great cash flow and duplexes can be found in many different markets. We also discuss the details of apartment investing; such as ways to finance your apartment building, where to find deals and more understanding of the overall process. Join us and learn how a person can begin their real estate career with one single property like a duplex and turn themselves into a major multifamily investor as we learn about partnerships, acquiring properties and dealing with tenant issues. Be prepared to jump start your real estate career with apartment investing after listening to this episode.

Blog - https://charleskcarillo.com/20...

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@Karl McGarvey

For hard money lenders for commercial properties; start finding and inquiring with bridge lenders. Bridge lenders are like the hard money lender of commercial properties. 

@Thilan Ganegedara

Have they asked for any upfront money? That will be the dead giveaway. Ask them what loans they have closed lately and get the property addresses and check public records to see if they were the lender.

@Terry Imus

I have found with small commercial (5+ multifamily); local banks and local credit unions are your best bet. I would call all of the institutions within a 45-minute drive of the property and see what they can offer you.

@Syman Scarpellino

There are a number of asset protection attorneys out there but when reviewing them I found that most of the plans did not provide true asset protection. DM me and I can explain what we did with the firm we used.

@Sanjay Ramanand

You should be able to find a lower interest rate than that as a foreign buyer. DM me and I will send you the name of a lender our partners use.

@Sarah Rothenberg

DM me and I can share with you the asset protection attorney we use.

@Aaron Cole

Did you just go to one bank? I would call all local banks and credit unions in your area and see what they can offer. Usually, $40k is too small but see what their minimums are for the properties you are targeting. You might find one with a $50k or $75k minimum.