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Updated over 7 years ago on . Most recent reply
Commercial Real Estate - Personal Mortgage is that a possibility?
Commercial Real Estate - Personal Mortgage is that a possibility?
Do we need to form a LLC to buy Commerical Property Mortgage? Can we buy Personal Mortgage for Commerical Properties, based on my reading an umbrella insurance will suffice. Let me know
Most Popular Reply
@Sumesh Vadassery - Welcome to BP. No, you do not necessarily need to form an LLC or other entity to buy a commercial property (and/or mortgage). If you qualify, you can get a loan and take ownership of the property/mortgage in your own name.
Not sure what you mean by an umbrella insurance? Those types of insurance policies are available for multiple properties. However, that is a separate topic all together.
Cheers!