Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago, 12/30/2020

User Stats

35
Posts
10
Votes
Naoko Potts
  • Rental Property Investor
  • Bolivar, MO
10
Votes |
35
Posts

Bank loan under LLC vs individual

Naoko Potts
  • Rental Property Investor
  • Bolivar, MO
Posted

This could be a question I should have posted under bank loan but since I’m still very green, I decided to post this question here.

For my first property purchase, I'm looking into conventional bank loan. My original thought was to avoid personal liability, I would loan money under the name of my LLC.

But I have noticed after I made a several bank calls, many don't lend money to LLC or if they do, they charge higher interest rate. The last bank I called told me that I could transfer the loan to LLC.

My question is how liable our personal assets would be if I loan money under my personal name? Would my personal liability would be alleviated if the loan is transferred to my LLC? Or am I too concerned about my personal liability?

Thank you for your advice.

Loading replies...