All Forum Posts by: Thergam Alshara
Thergam Alshara has started 2 posts and replied 4 times.
Post: Deciding whether to talk to a small community bank or accountant
- Posts 4
- Votes 2
Hey guys,
In the process of creating An LLC for my company. Wanted to know if the next action step should be talking to lenders about my financial situation or getting an accountant to set up the foundation for our company.
Thank you ,
Thergam Alshara
Post: Group of 4 wondering the most creative way to finance house flip
- Posts 4
- Votes 2
Thank you guys for all the feedback, I will be looking into starting an LLC and consider getting an hard money lender on board.
Post: Group of 4 wondering the most creative way to finance house flip
- Posts 4
- Votes 2
Originally posted by @Sammy G.:
It'll be 'easier' to get a loan as individuals rather than an LLC (specially if it's newly formed). Maybe you can considering pooling in funds in this LLC and then purchasing property cash with each ones roles & responsibilities clearly defined.
So you are saying we should each get out a loan? wouldn't that be excessive amount of money? For our first flip we are considering buying a home around 100k ball park, so we'd each have to get a loan of around 20k? But I like the idea of clearly defining ones responsibilities. What are some responsibilities? like marketing? some tear down work?
Post: Group of 4 wondering the most creative way to finance house flip
- Posts 4
- Votes 2
Hey guys,
I am new to investing and was wondering what was the best option in terms of financing a home. Considering I'm jumping into the investment with three others, we were considering starting up an LLC and taking a commercial loan. Just wanted to see if we can get a conversation going on what some of you would do.
Thank you,
Thergam Alshara
Engineer (for now)