All Forum Posts by: Mike Singer
Mike Singer has started 0 posts and replied 34 times.
Post: Getting a loan with contract work
- Lender
- Dana Point, CA
- Posts 39
- Votes 18
Are the jobs typically paid via W2 or 1099?
Post: DSCR loans and LLCs - which state?
- Lender
- Dana Point, CA
- Posts 39
- Votes 18
Shouldn't matter to the lender, they either allow to close in an LLC or they dont. Each state does provide different protections for liability purposes though. There's lots of detailed videos from attorneys on youtube for this subject. I would verify with a professional before making a decision, but a good place to start.
Post: Rate lock in fees on investment triplex property
- Lender
- Dana Point, CA
- Posts 39
- Votes 18
Seems high to me. A normal margin is 2-3% to the broker. The rate seems competitive for an investment 3-unit.
Post: Commercial lending for oos investors
- Lender
- Dana Point, CA
- Posts 39
- Votes 18
Hi Brian,
I can do lending under both an LLC and individual SSN in the Ohio area. If we lend under and LLC, it does require you to personally guarantee the loan, but you can vest it under the LLC Shoot me an email. Happy to go over terms and see if we can do business together!