All Forum Posts by: Lonnie Thomas

@Ryan Copeland impressive work man!

@Tom Shallcross I’m closing on my first investment property Friday Tom. I think it could be a mutual benefit for you guys podcast at straight up Chicago investor

@David Robinson David thanks a lot for this information man! We’ve provided all documents necessary and the bank still recommending it be a family member

@Brent Coombs great POV. My investor friend is willing to help me buy my first three deals to get the experience and put me on track to do bigger deals. I invested the 3.5% from my account he’s funding the closing cost which are 7 grand. Yes I plan to use majorly of the cash flows from the property to buy my second deal.

@Brent Coombs granted I am living there for 12 months but I will move out and do the process again.

@Wayne Brooks I agree I submitted the docs they required from my donor but now they’re saying he has to be family.

@David Robinson it's a FHA loan

I am just about at the finish line on closing on my first investment property 11/4 is the close date. I have an investor gifting me the funds to close. The bank is making it hard saying that a friend can not gift the funds, that it has to be a family member. Has anyone had a similar experience?

Thanks

LT

@Taylor L. thank you for advice. I absolutely agree. 

@Jake Stuttgen thank you so much for this. Is it legal to transfer your title into your LLC?