All Forum Posts by: Karthik Natarajan

Thanks for the comments folks.. very helpful. 

I have not heard of DSCR loans, wil research into it more

karthik

My lender mentioned that he can do a home mortgage only on my personal name and not on the LLC name. The deed had to be in my name. Once the purchase was complete he asked me to change the deed name to LLC.

Is this the norm and common practice if someone is looking to finance a rental property purchase?

That is an interesting suggestion Jason.. I will research more on it..

Thanks for the information Hunter & Katie. Think it makes sense to open the LLC in CA given that we are going to have to pay the 800 anyway.

Hi All 

Looking to guidance on setting up LLC.

I have one property in California and looking to purchase a second one out of state in Omaha or Georgia. I woudl like to move my current property under a LLC and purchase the other ones on that LLC. have a few question on setting up the LLC.

1. Setting up LLC in California and maintaining it I believe is ~$800 a year. So can I setup the LLC in a different state like GA or NE as those seem to be more cost effective? What are the pros & cons of setting up LLC out of state.

2. What would be the recommendation for the number of properties I setup under a single LLC?

Karthik