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Updated 10 months ago,
Confusion on purchasing first investment property
Hi,
I am seriously new at this. My son and I plan on buying our first investment property; either a duplex or triplex. With this being our first one, I am wondering about prequalifying for a loan. We just formed an LLC and now I am seeing that if you want to get a loan with the LLC, it won't be a conventional etc...type of loan. We are looking for asset protection and the plan is to buy more properties moving forward.
I am looking for guidance on how to handle the first income property as it relates to getting the loan and LLC formation. Any suggestions/knowledge is much appreciated!