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Updated over 8 years ago on . Most recent reply

Danny Akkerman's profile image
Danny Akkerman's profile image
Danny Akkerman
  • from White Lake, Michigan
  • Member since Jul 12, 2016
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Danny Akkerman's profile image
Danny Akkerman's profile image
Danny Akkerman
  • from White Lake, Michigan
  • Member since Jul 12, 2016
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Danny Akkerman
  • White Lake, MI
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Buying & Selling Real Estate

Newbie Question please help

Danny Akkerman
  • White Lake, MI
Posted

Hello to anyone who can help,

I am looking at duplexes in the Detroit area to buy as an investment property to rent out. I have enough to put down 20-30% and would like to mortgage the rest. I have excellent credit. My question is... is it possible to get a mortgage in the name of a newly created LLC? Or if I get a mortgage in my name, is there a way to transfer it to an LLC? I want the protection of an LLC but my mortgage guy told me I can only get a mortgage in my name.... which scares me. Or is there other loans out there with similar interest rates to a mortgage?

Any thoughts or advice much appreciated.

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