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Updated over 8 years ago,
LLCs & Hard Money Lenders vs. Non-LLC & Conventional
This part of the deal is still kind of a mystery to me, and am hoping someone can shine some definitive light on it. I am going to explain what my plan originally was, let me know if it makes sense, and is viable, or if it has zero chance at working.
My plan was to find a HML to supply a short term loan for a 'buy and hold' in my LLC, and once the property was secured, to search of a long term conventional refinance option within the LLC.
But I have heard a lot of 'dont bother with the LLC' and 'go to a bank and find a conventional loan.' I guess the big question is, I dont understand the reasonings for each side. Can someone help explain this?