All Forum Posts by: Julio Seanez

Thanks for all the responses! 

Danny: Thanks for the links to the beginner's guides. I've been reading lots of articles and books about multifamily investing and it seems like these will be a great supplement to what I've read. 

Daniel: I actually live in San Diego right now. Thanks for the offer, I'll be sure to keep that in mind.

VeinTwain Herron: I really appreciate the tip about LLC's owning properties. I'll be sure to double check what the law states. Is there any particular law you think I should watch out for? We're hiring an attorney to help us properly establish the LLC. I have a meeting with him in about 2 weeks to finalize the paperwork.

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I've been looking around on the MLS and I've been reaching out to agents to get a feel for the market, to collect data and to practice calculating the value of a property. I've found a couple of properties that meet my criteria and I'm planning to make an offer within the first two weeks of January provided that we get preapproved for a loan. As for financing options, a conventional loan with 20-25% down seems to be the most feasible. However, it'll be fun to see how difficult it is to get preapproved as an LLC with no credit history. I may need to cosign a loan initially to help establish some credit for the company.

Please let me know if I sound like a crazy person. lol.

Hello! I wanted to take a second and introduce myself. My name is Julio, I'm currently an officer in the Navy and I'm looking to start investing in multifamily homes in El Paso. A buddy of mine and I are in the process of forming an LLC to buy and sell real estate in El Paso with the possibility of expanding into other markets. I currently live in California and my buddy lives in Hawaii, so we'll be relying heavily on good property managers. I'm excited about the prospect of investing and can't wait to close on a deal, Happy Holidays!