All Forum Posts by: Sarah Downey

Hi Anthony,

You can use the same LLC for multiple transactions without having to make a new operating agreement or amend it for each property. Most of the investors we work with use the same LLC. I have seen some investors create a new LLC for each property, but that can get expensive, and you would need a new operating agreement each time.

EX: Parent RE LLC-- 100% owners of property LLCs --- 123 Main Street LLC, 15 Cherry Lane LLC

This provides some separation for the assets if you are concerned about keeping them all under one company. 

We use an awesome program called Legal Nature to create operating agreements and amendments/resolutions. It is pretty affordable and easy to use. 
 

OBIE's customer service is top-notch! When it comes to finding a good insurance agent, I think that a huge factor is responsiveness. Their team gets us quotes so quickly, and they are usually more affordable than what we are seeing from other agents. I really like that they specialize in landlord policies, too! 

Hi Parker,

My husband and I switched over from conventional loans to using hard money/private lenders back in 2020. The underwriting process is a lot easier since they focus on the property Income/ROI, not your personal income. You will definitely be able to scale up faster. If you have flip experience, you can usually get higher-tier pricing.

Another big factor is that if you are closing your loan with an entity, it will not show up as a tradeline on your credit report/personal DTI. This can help safeguard your credit score.

The company I am with now helps you shop the top private money lenders in the market, too, so if you are not sure how to navigate these types of loans, we can definitely help.

Hey, I am curious about what other investors are using to find long-term tenants in this current rental market. I self-managed and have used Zillow for most of my rental properties over the last 5 years and it has been pretty successful and easy to use but I have noticed that it is taking longer to lease up my properties over the last 6 months just using their platform.

Any recommendations for other options/resources or strategies?

Hi Bigger Pockets Community,

I am super excited to finally join Bigger Pockets. I have been a real estate investor for 8 years and have worked in the private lending space for over 5 years. I LOVE real estate, and how it has changed my family's life. It is so fun to bring my kids out to one of our rental properties and explain to them how rental income works and that someday these properties will be theirs. My husband and I bought our first rental property back in 2015 while he was actively serving in the Navy. Since then we have added 7 more properties to our portfolio. We usually buy 3 bed 2 bath homes that are rent-ready in good school districts. In 2018, I began working as the SVP of Operations for a Mortgage Broker that focuses on Investment Property Loans from the Top Private Lenders. I have been with the same company for over 5 years now managing a team of incredible loan processors. I have learned so much from all the real estate investors that I have worked with and I look forward to being able to share my personal and professional knowledge with this community!