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Updated almost 2 years ago on . Most recent reply

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Maurice James
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multiple member LLC

Maurice James
Posted

hello, 

I would like to know if I wanted to open a new LLC or even amend my current one to add multiple members and purchase rental property, would one member have to qualify for the loan or all?

If all, does this increase the amount of approval if approved using multiple incomes?

Lastly, if say 3 of 4 members can qualify and one doesn't, does the loan get denied?

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Eliott Elias
  • Investor
  • Austin, TX
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Eliott Elias
  • Investor
  • Austin, TX
Replied

The types of loans you should be getting will qualify the property, not its members. 

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