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All Forum Posts by: Robert Anderson

Robert Anderson has started 1 posts and replied 4 times.

Post: New investor question

Robert AndersonPosted
  • New to Real Estate
  • Providence RI
  • Posts 4
  • Votes 1
Quote from @Justin Hammerle:
Quote from @Robert Anderson:
Quote from @Justin Hammerle:

@Robert Anderson - Generally speaking for first time home-buyers and those with limited assets to protect; your best served using an FHA loan in your name to house hack a multi. You can purchase insurance that will give you similar liability protection if that's your main concern. You can always refi out of the loan with your name into an LLC with a conventional mortgage down the road.


 Thanks for the quick response! I do have assets to protect so that's why I was asking. I'm trying to take the no or low money down approach on my first property. There are ways to protect my assets without having the property in an entity?


Of course, yes if your concerned about the liability from your renters than you can add renters insurance.  If you do have some assets to protect I would recommend consulting with a CPA to determine whether or not an entity makes sense.

Appreciate it Justin! My friend Tommy and I are focused on educating now everyday, will be going to events. Any that you would recommend? Maybe we can link up at some point when you have time.

Post: New investor question

Robert AndersonPosted
  • New to Real Estate
  • Providence RI
  • Posts 4
  • Votes 1
Quote from @David Bilandzija:

@Robert Anderson No can do If we are talking first time home buyer programs i.e. FHA. Loans cannot be made to an entity, same for Fannie/Freddie loans. Purchasing as an individual and then transferring to an entity afterwards is not an option either.

Private lenders (non-conventional), will allow you to vest in an entity. 


 Appreciate it David!

Post: New investor question

Robert AndersonPosted
  • New to Real Estate
  • Providence RI
  • Posts 4
  • Votes 1
Quote from @Justin Hammerle:

@Robert Anderson - Generally speaking for first time home-buyers and those with limited assets to protect; your best served using an FHA loan in your name to house hack a multi. You can purchase insurance that will give you similar liability protection if that's your main concern. You can always refi out of the loan with your name into an LLC with a conventional mortgage down the road.


 Thanks for the quick response! I do have assets to protect so that's why I was asking. I'm trying to take the no or low money down approach on my first property. There are ways to protect my assets without having the property in an entity?

Post: New investor question

Robert AndersonPosted
  • New to Real Estate
  • Providence RI
  • Posts 4
  • Votes 1

Hello everyone, happy to be here. I'm excited to get my real estate career started and doing lots of reading to let the picture present itself for me. I thought of a question I would like some clarity on. I would like to use my first time home buy on a multifamily property. However, can I do that if the property is under and LLC, or maybe purchase the property and then move it into the LLC? Thanks!