Hi everyone,

I just found this board and had some questions.

Myself and my fiancee are looking to get into real estate.

My current plans are to form an LLC in Florida, and then begin to buy townhomes to rent out.

Now the questions.. How much money would I need to put into the LLC to start? If I'm buying townhomes, how much money will "the LLC" need to put down in order to buy them? At the moment I wouldn't have a whole lot to put down. Can you get 80-10-10s or even 100% financing as an LLC?

My credit is excellent, as is my fiancee's. We've just bought a co-op apartment.

Any help is appreciated!

Since the LLC would be relatively new, you and/or your fiancee would more than likely have to guarantee the loans in order to obtain attractive rates and terms.

That being said, you may want to see what type of 100% financing yould be available to you before you establish the LLC, and be sure that your lender will allow you to deed title of the property to the LLC after closing.

With good to excellent credit, there are programs that will allow you to finance SFR or up to 4 units with 0-5% as a down payment. As you begin to invest more heavily, be aware that you may run into obstacles financing more than 10 properties at a time, at least those held by one LLC.

Also, the LLC is liable up to the assets it holds, so you would want to consult an excellent attorney to advise you on how many properties each should hold, and how you should structure your property management (multiple LLC's and the like.)

If you'd like me to obtain a generic approval for you (without a subject property address), and put together some rates, payments, and terms (so you can get a concrete idea of what you're looking at) please contact me on the cell phone number in my signature. Best of Luck to you!