All Forum Posts by: Ethan M.

I understand that it's important to hold investment property within an entity such as an LLC. So if I'm just starting out, should my first step be to find a lawyer, form an LLC, then have the LLC buy the property?

Or do I buy it first as an individual and then form the LLC and then somehow transfer the property to the LLC?

How is it usually done?

Thanks,

Ethan

Jon, thanks for the response. Yeah, investing at a distance is not my first choice, but it's tough finding properties in my price range the SF Bay Area. I kind of have to look elsewhere. I would hope to find a good property management company. I have no problem with taking a trip or several trips to NC to size up the area and look at places in person. I would like to get some sense of where to start though.

I just got prequalified for a loan by a mortgage broker. I went to him because he handles the specialized loan program for state of CA employees. Turned out he can get loans from a number of sources. So if someone has a better deal I could get access to that. I'm wondering if I did the right thing though.

Would I be better off going to B of A, or looking at a website like lendingtree.com? Or does it matter as long as the terms are acceptable?

Any advice or insights would be greatly appreciated.

Thank,

Ethan

I live in CA, but I'm considering investing out of state. I'm attracted to NC because major universities and has a mixed economy.

I guess the two main areas are Charlotte and Raleigh? Within those areas, what are the best neighborhoods to look at? Are there other areas I should look at? Any "gotchas" or pitfalls to watch out for in NC investing?

My price range is $150,000 to $250,000. I'm looking for a single-family home or a duplex.

Any insights or advice would be greatly appreciated.

Thanks!

Ethan