Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Hard time finding a lender with an LLC Puerto Rico
Hello,
Im from Puerto Rico and i have a sub-leasing and management company for airbnb that we currently have 30 properties. We want to start buying multi-families to do airbnb or long term leases, but we are having a super hard time getting the few banks in Puerto Rico to lend us money with our LLC, they take a lot of time to respond to our emails. One banker told us that normally those investment loans are for 15-20 year term and 6.5% - 8.5% interest rate.
i recently talked to a big developer and told me that the first 1-4 deals i make them with hard money lenders or equity lenders, that in a year i can refinance with a bank and pay them back their loan.
Any advise on that getting loans with an LLC and getting a loan from a hard money or equity lender?