All Forum Posts by: Neddie Smith

@Sivan Aviv feel free to connect me (PM) if you like. I started investing in the US from Austria last year. Now I am investing together with my german partner. 

Thanks everyone for your input. 

Ok I understand. If the title is held in an LLC a commercial loan is required/normal.

@Guifre Mora can you elaborate on this process and does it carry any implications - PM would be ok too if you like.

I currently would like to place two investment SFR that are owned free and clear within an LLC. After the transaction, I would like to do a cash-out refinance for the property.

So my question is this: Do I have to get a commercial loan or a normal residential loan? What are the differences? If a commerical loan is necessary, what "words" do I need to use to reach the right person(s) at a bank or lending institution?

Thanks in advance!

Hi Dan, I  in the same boat, would you mind PMing me as well?

I invest in Cincinnati but unfortunately I am currently living overseas. Would be interested in talking shop with fellow RE Investors as well.

I know this is old but Yes, I am. :D If you are still active let me know.

My 2 cents. As long as you have nothing legally binding you to do the "Unsure/Unreasonable" items then it is not an issue. In regards to the renovation, if you are able to get the tenants to agree to higher rent if you start the renovations now, then I would do it. Instead I would wait.

Thanks!

@Berish Edelman would you mind PM'ing me a contact at the community bank? I would reach out to them tonight

Thanks @Berish Edelman and @Jerry Padilla