LLC investing out of State & Loans

[John Whiting]

Hello BP,

I am a new investor looking to setup an LLC. I currently live in Ohio but looking to invest in WI.

I’ve had a few issues this far in my search for lenders:

-The local lenders I’ve contacted have not wanted to work with out of state investors. 

-Portfolio loan companies have minimum property values greater than what I’m looking at. 

-I’d rather not get a loan under my personal name and move it later.

-Hard money is an option but obviously rates are higher. 

My question is, if I setup the LLC as an out of state investor but use a registered agent, do I need to disclose to the bank my status as an out of state investor/will this make those banks who said they don't want to work with out of state investors now be ok to work with me since my LLC is set up in WI?


Thanks In advance!