All Forum Posts by: Richard P.

I think it would be a lot of fun to involve private investors on some of my real estate deals.  I think there are some great advantages.  The leverage is helpful when my personal cash is low and there are more eyes evaluating the deal.  My question is, what are private lenders typically looking for in a deal?  Do they want to lend money short-term or have equity in the deal?

@Account Closed

How can property management work for people who don't hire a property management company? Do individuals need to be licensed? Is it the LLC that owns the property that is considered doing the management, or would it be me if I own the LLC?

Many Thanks!

@Carl Fischer

Thanks Carl!  

Just brainstorming how this might work. Would the LLC which owns does the property management need to take some sort of payment to show that it is an actual working LLC? In the end the money would still come back to me through disbursements, but I'm wondering if its fishy to do business like that. Any ideas or clarification how one might go about implementing?

@Jim S. 

Thanks for the reply! Do you know if banks would allow the purchase in an LLC if I don't do an FHA loan?

When buying property, would having a second LLC (which I own) do the management (instead of me personally) give any additional liability protection? I've been told that LLCs may not be helpful if sued over a management issue.

Hey all! I'm new to BP, looking forward to connecting. I'd like to do a house hack by buying a duplex, living in one half and renting out the other. After a couple of years, I'd like to move and keep the duplex as a rental property. Should I buy he property in an LLC to begin with? Will banks allow you to purchase property in an LLC if you back the loan?