All Forum Posts by: Nathan Zhivalyuk

Hello everyone, 

I have recently been doing some research in the area of buying homes directly from home owners that are motivated to sell their homes for various reasons. I understand the theoretical process well in terms of how to find these potential motivated sellers but I am kind of hung up on the practicalities of how to follow through once an agreement has been made on a selling price. Can someone please walk me through such a process (agreement of sale, title search and what ever else might be necessary to complete this process). 

Thanks!

-Nate

Hi There.

I am a cash buyer in Philadelphia. 

Nathan Zhivalyuk

[email protected]

267-346-5342

Thanks!

@Ron J.

 Oh nice, I also just got my first one and it's also in Frankford :)

I'm also closing on one this week in Overbrook.

Hi @Ron J., 

I am also just starting off in Philly and am interested in doing section 8. Can I ask what areas you are looking into?

sorry for the double post

@Robert Anderson

By cashing out you mean pulling out as much as possible? Like 70%?

@Robert Anderson

By cashing out you mean pulling out as much as possible? Like 70%?

@Robert Anderson,  Are you talking about getting a loan for a new investment property or refinancing an already existing one?

Thanks @Rita Bautista. 

Since the LLC is brand new and doesn't have any credit history or tax returns, do they look at the income/debt and credit the same way they look at a residential loan? Does the rent money get considered?

I am new to REI but am interested in the Buy-Renovate-Rent-Refi approach. I have an LLC and we just closed on our first property last week (cash purchase). From having a short discussion with two different banks, I found out that if an LLC owns a (residential) property I have to go the commercial route to refi. Is this true with all banks?

Is it generally more difficult to refi using when an LLC owns the house vs. an individual?

Any advice on how I can strategically set this up where it would make refinancing my properties easier?

Thanks!

-Nate