All Forum Posts by: Ignacio Quinonez

James Masotti, Thanks so much for dropping some knowledge! Definitely working on forming an LLC both flips and buy and holds. This is pretty much the last step before I take the "leap of faith" and start killing it like all you REI veterans.

Hey all,

I am super new and have been getting as educated as I can along with analyzing properties for the better part of a year now. I have recently found some great looking deals and have reached out to a hard money lender in order to figure out what the terms of the loan would be and better analyze properties.

After speaking with the lender, it seemed like an LLC is more of a requirement when looking to flip. Is this a requirement for most hard money lenders? I am currently in the panhandle of Florida (Niceville, Fort Walton Beach area) and I am looking for opportunities to invest locally primarily for Buy and Hold. When I do form the LLC, it will be here in Florida which brings me to my next point.

I've also been searching in Arizona. I have relatives there that are currently flipping property and also have been in the construction field for 25+ years. Flips will be primarily to build up capital for buy and holds. Would I be able to use an LLC formed in Florida for properties purchased in Arizona, or any other state for that matter?

Any feedback would be greatly appreciated.

Thanks,

Ignacio Quinonez

Great deal and thanks for sharing!!! I am continuing to learn a ton from the BP community as well. Looking to make a move here around the Niceville area. I wish all the best for your future endeavors. 

Dillon, 

I would also like some more info on this property. Please send to [email protected]

Thanks!