All Forum Posts by: Logan Pemberton

Hey everyone, I am from Utah but looking at the possibility of building a portfolio in Davenport. I’m thinking to start with single family rentals. I’d love to connect with anyone and learn as much as possible about the market and how to get started? Any specific strategies that have worked for you guys or a good realtor that is investor friendly to help me get in door #1?

I realize I’m asking for everything but I want to learn all I can and any insights are appreciated! Thanks!

@Cal Dunagan Thanks a ton for the articles they were super helpful. I have never heard of the SBA but I will definitely look into that more. How does an LLC go about purchasing a property? Would a bank look at my personal income from a W2 job still? Or would I purchase the property in my name and transfer it to the LLC? I'm pretty foggy on how it all works and what I'd need to qualify for a loan.

@Jody Sperling I have thought about a HELOC, but I don't have 20% equity and wouldn't qualify. Also, are you suggesting to use the HELOC to pay down other debts? I haven't thought of that before. Only using it to get in another property. Is there a way to prove rental income from my first property to counteract that debt? Otherwise my W2 job will never provide enough income for multiple properties. I'm sure there's a way to scale up while still working full time. Thanks for your help.

I was lucky enough to get into a rental about a year ago, but have been stuck trying to go up from there because of DTI. I'd like to go out of state because there are better markets but not sure how to get started. Any ideas or strategies to keep moving forward?