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Updated over 7 years ago,
Real Estate Financing W/ Anonymous Partner
Hello BP members, I have a question regarding getting financing for real estate in the price range of $300k-$500k
I Intend to hold the real estate in an LLC
I would be the manager of the investment and take a 40% stake in the LLC
I have an investor that would put up 30% of the downpayment (as well as cover CC) & bank finance the other 70% (Investor will have 40% stake in the LLC)
I would have another partner with an income of $80k-100k+ annually that would have no money in the deal but that personally, guarantees the loan amount. (This partner would receive 20%)
My Investor providing the capital, however, doesn't want his name anywhere. So this investor wants to put his capital into the LLC that will hold the real estate and then wants his 40% ownership held by a newly formed anonymous LLC
The down payment capital is in the LLC and the high-income partner is guaranteeing the loan.
Is It possible to get a mortgage with that structure?