Securing financing for a multi-family under my LLC

[Megan Greathouse]

Hello! I am a relatively new investor and just had my offer accepted on a 4-family property in St. Louis. My primary residence and first rental (a single family that I lived in before renting it out) are both in my name. I'm preapproved by the lender who financed my primary residence to buy this 4-family investment property, but I'd rather start doing business under the LLC I just created, if possible. I've received some recommendations for other lenders from my investor-friendly Realtor, so I'll be reaching out to those lenders this week. I'm hoping some fellow investors can answer a few questions for me:

- My plan is to take details about the property, my BiggerPockets report on the property, Rentometer rent estimates for the units after some updates, and an itemized list of the updates to be made to meetings with the lenders. What am I forgetting?

- Should I also be ready with pay stubs and other proof of income, in case lenders are uncertain about lending to my LLC? In that case, would I also bring the credit score information I got from my initial lender when they were preapproving me?

- Should I have a bank account set up for my LLC and transfer my funds for the purchase before meeting with lenders? Or should I let them know that I'm planning to open an account with the bank that offers financing to my LLC, and use that as a way to help secure financing?

Thanks in advance for any thoughts! I appreciate the opportunity to learn from your collective wisdom.

-Megan Greathouse