All Forum Posts by: Da'Michael Horne

Thanks for the feedback on LLCs. I have asked a few people and have gotten some answers that are vastly different. 

The min loan amount was about 80k and total value no less than 100k. 

I have looked at multi family homes in the past but have been out bid by owner occupants that are willing to pay a little more than I was willing to. I was looking for 16% ROI and stuck to that last year.

The only issue with the conventional loan is it has limitations and only can purchase about 4 properties and anything over 4-5 units are considered commercial. So i guess the logic was to setup the LLC now and purchase under the LLCs to avoid having to transfer the property and risk the bank asking to pay the full loan amount if they are alerted about the transfer.

Question- has anyone had any experience transferring properties from a sole proprietorship to an LLC and did you have any issues with the bank?

We are new investors looking targeting 3 long term rental properties this year. We currently have one LLC but are going to potentially apply for two more once we get up and running. We have about 60k capital that we are willing to start investing with.

The LLC structure the first would be acquisition, second would be a holding company and the third would be the property management company.
Question- thoughts on how many LLCs are needed? when we should look to open up the other LLCs? Do we actually need the other LLCs? 

Method of financing we have looked into RNC capital and LendingOne for lenders that deal strictly with LLCs. We are target properties they provide a ROI of at least 15% and primarily looking into smaller single family homes to start.
Question-Is 15% a good target? For new Investors what are the best methods to finance? Thoughts on Heloc, crowd sourcing, or personal capital to finance the first few set of homes.