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All Forum Posts by: Jonathon Leib

Jonathon Leib has started 9 posts and replied 15 times.

Post: Need Philadelphia based contractor to brrrr

Jonathon LeibPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 15
  • Votes 0

Have cash to start brrrr process but my contractor is flaking in me. Looking for someone in Philly to talk to. Looking at point breeze area.

Post: Hard to transfer title to LLC from own name?

Jonathon LeibPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 15
  • Votes 0

I own a few rental properties in Philadelphia that I purchased through conventional financing and it was just easier to do in my name rather than an LLC. I can't seem to find useful info on moving them to an LLC. Will the lender allow this easily? Wells, CITI, etc. also, do I have to pay transfer tax? Lastly, does it matter? I currently have an umbrella policy for iablitu coverage of $1.5mm. Doesn't this do the same thing as the LLC? Especially if I increase the coverage??

Post: Portfolio loan vs conventional mortgages

Jonathon LeibPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 15
  • Votes 0

I’m looking at buying a 5 property package in Philadelphia. One is $210K and the other 4 are between 50-75K. Having trouble finding lender for the cheaper houses. This includes two duplexes so 7 total units. I assumed looking for portfolio lender/blanket mortgage would be the way to go but as I read through forums, I’m wondering if it would make sense to just finance each one thru conventional mortgages. I have 3 other invest properties with mortgages so I figured the asset based loan that doesn’t report to credit would be the way to go as I look to ramp up the rental units. Thoughts?

Post: Portfolio loan vs individual mortgages??

Jonathon LeibPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 15
  • Votes 0

I’m looking at buying a 5 property package in Philadelphia. One is $210K and the other 4 are between 50-75K. Having trouble finding lender for the cheaper houses. This includes two duplexes so 7 total units. I assumed looking for portfolio lender/blanket mortgage would be the way to go but as I read through forums, I’m wondering if it would make sense to just finance each one thru conventional mortgages. I have 3 other invest properties with mortgages so I figured the asset based loan that doesn’t report to credit would be the way to go as I look to ramp up the rental units. Thoughts?

Post: Portfolio loan on property under 100K? 5 props, 7 units. Help??

Jonathon LeibPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 15
  • Votes 0

I’m looking to purchase 5 properties in philly. One is $210 and the other 4 are between 50-75K. Having trouble finding lender for the cheaper houses. This includes two duplexes so 7 total units. Anyone have advice on lender that does this?

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