Buying property as a partnership

[Philip Small]

Hi! My wife and I are looking at buying our first investment property (in PA). We would like to include a good friend as a partner. We have similar investment goals and know that we should put everything in writing prior to doing so. I know the typical advice is to form an LLC. I heard that it is possible to purchase with an individual's name but still operate everything through the LLC. Is this true? I'm having a hard time finding anyone who will lend to an LLC without much higher rates. Does anyone have experience with buying with a partner that can offer advice?

Thanks!