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Updated 12 months ago,
Financing for New Properties in a Seperate Newly-Formed LLC
Hey There!
After browsing various threads on the subject there is one question that remains when it comes to financing and asset protection.
I realize that you would have to get a non-conventional loan if you are buying the property under an LLC. Now if you form a new corporation for each property purchased prior to getting the loan financed, how would the bank approve the loan without prior history on that specific new corporation? If you create a new company for each property you buy wouldn't financing be extremely difficult considering you are starting off with a fresh slate?
I image alternative could be buying under a company with already-present assets and than transferring it to a newly-formed LLC afterwards? But that might prove difficult under typical loan terms.
Anyone has any advice in regards to this?