All Forum Posts by: Chris Getz

I've been thinking about ways to come up with funding to get started, and while I can provide the needed down payment for a multi-family that I'm looking at, I was curious as to some other "solutions" that might be available to limit my initial cash outlays.

Would it be possible to transfer your primary residence to an LLC, and then you would rent from your newly created LLC. This would allow you to get a 'primary loan' that possibly had better terms and less down payment requirements to get into a rental property.

Feel free to tell me this won't work or its a dumb idea, Im just trying to think of other outside the box ideas for getting myhands on properties that will cashflow without large downpayments.

I've been lurking around here for months now just soaking it all in. This is a great place.

What is everyone's thought's on buying a condo in a complex that recently had a fire. The The particular unit had no damage done to it from the actual fire, but the smoke is prevalent in the unit. The damaged portion of the building is being renovated/repaired and should be back up and running in the next month or so. The list price on the unit Im looking at is about 50% of similar units in the complex. So its something that would easily cash flow, with what seems to be minimal repairs/reno's from my standpoint. im concerned about potential tenant issued in a unit that had smoke/fire damage. Thoughts?