All Forum Posts by: Giovanni Luna

A friend of mine has a church legally established as a 501c3 and I have been thinking about forming an LLC. I then had a thought while talking to him, what if we used my LLC to hold assists for him, then there could be a tax exemption. My question is, (1) is this possible, (2) what are things to look out for in order to avoid legal battles,(3) is the such a thing as a non-profit LLC? We are wanting to buy homes and multifamily charge rent and use that as income for ministry purposes and also to house missionaries and people in need for and from the church. Would this still be legal or even possible to do? Thank, Giovanni

Bow big is the place your looking at? 

typically yes. If you could find a local bank who sell notes to Fannie Mae banks or if you can find one that has in house those are the more flexible ones that will work with you and count that toward the debt.

I would agree with Mike. If it doesn’t work for you in state then go out of state but make sure you do your du diligence,get an inspector and have pictures and video taken if you honestly can not go to the property . 

Rachel, 

How do you get the local rents near that area/neighborhood without going to a real estate agent or Zillow?

are you referring to permits you need for demolition? You will need to contact your A and E at the clerk office and most services you contract like a plumber or electrician can also help you out as well and also an inspector.i would start with A and E and then inspector. 

203k with a Reno sounds like a bad deal to me depending on what kind and how much for the Reno. If I was paying 203k for a duplex, it better be a high rent, with occupied tenants in them with separate meters.

@Ade O. For me the best email to reach me is “lunarealestatesolutions” This is at google account

Joe,

What has been your return on REI?

@Ade O. Good morning Ade O., I would love to get together! I looked at your website and it is exactly what I am looking for. I want to improve communities through new development and make it affordable while also making great returns as well. It is funny to fInd someone who lives in Houston and invests in Pensacola. Where in Houston do you live? I live in Katy. Also I noticed you didn’t have a picture so please forgive me for asking but are you male or female? Best, Giovanni