Investing through an LLC with friend

[Jonny Hamblin]

Hi there,

I'm new to investing into property and will be moving to New York in April. I have $30,000 cash to invest into a small unit, with a plan to have the Mortgage co-signed by my wife's father, hoping for 70-80% LTV.

However, I am interested in starting an LLC with two other friends, who will each put in similar equity, and purchasing 2 buy-to-let properties. Can anyone detail the steps that would need to be taken in this scenario, assuming that we are all reasonably young (26) and won't have great credit scores with banks. Who lends to LLC's? how could we guarantee this loan? any advice would be greatly appreciated.

Jonny