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Updated about 4 years ago on . Most recent reply
Purchasing Rental Property Thru New LLC
Hello All! New investor here. I've formed an LLC with 3 other family members, for a total of 4 members with equal ownership. We would like to purchase a rental property thru our new LLC, but know that since the LLC does not have any credit, the loan would need to personally guaranteed by a member of the LLC. My question is: Do all members of the LLC have to provide credit info, salary info etc to the bank for a loan or can the LLC member with the best credit score and highest income request the loan alone?
Thanks!
Tristen
Most Popular Reply
@Stephanie P. Thank you for your response. Very helpful!