All Forum Posts by: Solomon Simmons

Here me out here. I am officially jumping in and purchasing a rental property but deciding to run as a Sole proprietor or LLC. The only issue is as an LLC, I must keep my personal finances separate from the business'. How would I go about getting approved for a mortgage with this? Currently I am confident in my own personal ability to qualify but would have nothing for the bank to underwrite. Would I need hard money here? Any help would be great!!!

Interesting! I’ve never heard that phrase, “You make your money when you buy” able to dial that in for me?

Currently, my wife and I are saving cash to go all in on our first investment property! We are hoping to “house hack” in the Raleigh area. I have a strong financial back ground but have not spent any length of time in the real estate market so the thought of shoving $25k into one transaction gives me anxiety, if I’m honest! We are mid 20’s and want to build toward financial freedom. Would love to hear practical wisdom on how to get my feet wet, while still focusing on my day job as a Sr. Financial Analyst.

Thanks for all the help!