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Updated over 4 years ago,
First Investment Loan Under LLC?
HI BP. I'm in the process of talking to lenders for a loan for a MF investment property. I'm targeting 3-6 unit properties. I have a few that I will be looking deeper into as soon as I square away what I can get approved for. So my question is, will it be difficult to get a loan through a newly formed LLC? I formed the LLC a few months ago just for the purpose of purchasing and owning RE. I was just told by one lender they'll need 2 years tax returns, balance sheet, Inventory, etc. All items I would think an established business would need for a business loan not a loan for an investment property to be purchased. Ive owned sfh as investments over the years and always just purchased them under my name. No LLC. Would it be easier to get the loan under my name and once owned move it to the LLC or does it depend on the lender? I'm curious how others have handled this.