All Forum Posts by: TJ Addison

I talked with my banker about this same thing. I just formed an LLC and wanted to transfer a property that I had into the LLC. They told me to do a quit claim deed and transfer the property into the LLC. He said I would keep the mortgage in my name but the deed would be in the LLC. I asked if I could transfer the mortgage into the LLC and he said if I refinance the financing would be commercial and it would be higher interest rate and more expensive. I guess I am using a local bank that knows me so maybe that is why they said I could transfer the deed and keep the mortgage in my name.

I told him I wanted to keep all my business dealing in the LLC and he said it was tough with no history. I guess if you want to build a history you need to bite the bullet and get the commercial financing.

Any other newbies run into this problem and find a solution?

@Grant Francke

Hey Grant nice to here from you.  I see your from Adams, just down the road from me.  My rental is in Lincoln.  @Josh Nix let me know about the Grata on the second Monday of the month.  I am hoping to get to the next meeting.  Do you have any real estate?

Josh,

This is great. One thing that I have been struggling with is finding meet ups. It didn't look like there was a local REIA in Lincoln, so I was hoping BP would hook me up with some valued contacts. I will try to make it next week. If you're there I will find you.

I look forward to learning a few things from the veterans of the investing community.

Hi everyone!

I am not a rookie investor but close enough!  I have 1 rental property that I have owned for 4 years.  It is working out well for me, but over the last few months I have been gearing up to take my investing up a notch.  I live near Lincoln, NE and am excited to meet other people in my area.  I am most looking forward to building a team of people I can work with.  I really look forward to connecting with all of you and providing some of my experiences as they fit into the conversation.  I love reading about real estate and have recently become addicted to podcasts.  While I like my single family home, my recent learning has got me moving towards multi-family.  I currently am trying to learn how to evaluate deals and hope to learn more about that too.