Posted by Jimmy on April 20, 2006 at 16:23:29:
what you describe is exactly how I do my loans.
but these are commercial loans. no 30 year ams. easier underwriting (in my experience).
LLC and buying a 4plex - Posted by Scott
Posted by Scott on April 20, 2006 at 15:16:40:
With all the talk about deeding the property over to the LLC after you buy it in your name makes me nervous. IS there any bank that will allow you to buy a property using the name of the LLC and then making a Personal Guarantee to the bank for the mortgage payments. I mean doesn’t that sound a lot cleaner then buying in your name first then transfering to the LLC?
Re: LLC and buying a 4plex - Posted by Natalie-VA
Posted by Natalie-VA on April 23, 2006 at 10:35:06:
Scott,
I get loans in my LLC often. Talk to your local banks. As Jimmy said, you’ll need someone in the commercial department.
–Natalie