All Forum Posts by: Account Closed

@Tom S. thanks for your response. I have actually not looked into portfolio lenders yet. I am currently speaking with a few mortgage brokers, and will continue my research in this field.

I appreciate your time,

- Nick

@Kyle J. your assumptions were absolutely correct. Being so new to this, mistakes will be made. I have taken your advise and will be attending my local Dallas REIA next week virtually... Cannot wait until we can meet in person again. Thank you for your advise and time spent on your response.

- Nick

@Stephen J Davis this is what I will try and do. Thanks for the advice.

I’ve communicated with four parties about private lending in the past 2 weeks. Two of them were scammers, one was legit, and the other never followed up with me.

What is your experience with private lending?

Is this something that takes time to lock down? When can I find resonantly priced private money? (7% - 13% interest with fair fees)

I am sure terms are negotiable, but what have you commonly seen?

Thanks,

Nick

I am not really educated on this very much, but I'd call around to smaller community banks, local credit unions, and even reach out to private money lenders, as they have really good rates right now. Hope this helps.

Nick

@Ikenna Okoye - Thank you for your responses!

@Tyler Bains - Thank you so much for your input and info!

@Kim Meredith Hampton I appreciate that. Are you aware of any property walks in the near future?

@Erik Hatch

I agree 100%. I will absolutely travel for this experience.

-Nick

Hello,

I am seeking the opportunity to walk a multifamily properties with experienced investors.

Please reach out if this is something you could offer.

Thanks,

Nick Aja

Hello,

I am looking to partner on a piece of property and I have a few questions, and I am sure many more to come:

LLC:

1. Where do I go to create an LLC?

2. If said "partner" is actually husband and wife and my girlfriend is also in the deal, are all four names in the LLC? I assume so.

3. Will we receive any tax depreciation with the LLC through this single family property?

Operating Agreement:

1. Are there examples of operating agreements?

2. How detailed is this document?

3. Does this need to go through a lawyer?

Is there anything else that you think I should be aware of?

Thanks,

Nick