All Forum Posts by: Jay Malaviya

Hi @Jason Wray thanks for your reply. But even with a business account, loan will be on my name right? So in that case why wouldn’t it affect future loans? Sorry I am still new to this so having lot of questions

Hey @Christen G.

What do you mean by quit claim? Can you please elaborate?

Also, even though you are allowed 10 loans, does it not affect the interest rate and down payment requirement when you need more loan in future? My understanding is, if you have some loan on your name that means you’ll have to put more down payment for any future loans

Hello BP community, really need your advise here.

We are a group of 5 people wanting to invest in multifamily residential property. This is our very first time and really confused whether to go for conventional loan or commercial loan.

We don't want our names on loan since it will affect our personal future loans down the road so we thought about forming an LLC but LLC needs commercial loan and interest rate is higher for that so difficult to maintain positive cashflow.

I know I can’t have the best of both worlds but really wondering how do newbie investors go about this? Any advise appreciated.

I checked about due on sale clause too so transferring the loan on LLC later is also not an option.

Hi BP Community,

We are forming LLC in Texas to invest in multifamily property (this would be our very first LLC) and want to know how the loan piece would work as there won't be any credit history on LLC. Does lender look at owners' credit history?

Also, 4 out of 5 partners are on visa, and wondering if anyone here was in a same boat who formed LLC for real estate investment and on visa. Should we choose member managed LLC or manager managed LLC?

Thank you,
Jay

@Polo Vazquez Thanks. Which place are you referring to?

@Antonio Cucciniello Sure, can you please DM me the contact?

 Thanks Antonio. Yes looking in San Antonio right now. Is it a good time to invest in San Antonio? I checked few multi families here and cashflow wise it looks good. Just not sure about appreciation.

 Thanks Brandon for the suggestion. Will look into that!

Hey @Polo Vazquez

Yes I am looking for duplex or fourplex, prefer fourplex. I don't want to go over $500k. Right now looking at San Antonio and prefer that but just not sure if it's a good market to invest right now and if it has a good appreciation. So wanted to see suggestions from BP community about other markets too.

Hello BP community, I am new here and planning on investing in multifamily property. Currently checking Austin and San Antonio areas. But want to know if there is any other location which might be good for multi family investment. Also, I am OOS investor. Any advise is appreciated. Thanks!