All Forum Posts by: Christina L.

@Brian Adams thank you. 

It’s not a syndication deal. Rather, three of us will be equal partners with equal ownership shares in the property. One of the partners is handling the investment as a 1031 exchange so there will actually be two LLC’s involved, one covering that partner and the other covering the remaining two partners. Because of the 1031, we will have “tenants in common”. I’m not familiar with the ins and outs of this arrangement but the partner doing this on a 1031 basis is having his attorney draft his documentation.

Good thought on the Delaware LLC. I'll be consulting with an attorney next week so I will ask about this.

In the future I may delve into syndication deals but fortunately, this one isn’t as complex as a syndication deal. 

@Nili Yosef @Christopher L.

Here's what I've found based on my research today:

*Ken Krapf - Bank of Tucson (I spoke to him and they are excited about lending to investors in the Tucson market. Note: they want you to have more business with them other than just a loan. For example, they like you to have an amount equivalent of 5% of your loan amount invested elsewhere with the bank)

*Armando Coronado - Vantage West Credit Union (Spoke to him as well and seemed interested in lending on the deal)

*Justin Martinez - National Bank (Have not yet spoken with him but he came recommended)

*Georgia Velarde - Washington Federal (Have not yet spoken with her but she came recommended)

@Christopher L. - thanks very much for the info! I am finding some after doing research for the last few hours. I'll post them in this thread shortly.

@Victor Trujillo thank you

Tucson multifamily investors - does anyone have a recommendation for a local bank that lends on multifamily assets?

@Nghi Le - will do! Once I have more information on closing the deal in the LLC's name, I'll follow back up in this post.

@Chris K. Thanks for the detailed response. Very helpful information. 

@Chris Purcell agreed. I've already told him I'll only do the deal if assignment gets paid at COE. 

Avi Garg great, thanks for the feedback.

Hello BP community. I'm in escrow on a multifamily deal with a couple months to go on the due diligence/closing period. I need to get an LLC set up in preparation for closing. Can anyone recommend an online service for setting up an LLC that you've used and liked? Rocket Lawyer and IncFile seem to have decent reviews and prices but any recommendations would be most appreciated.