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Obtaining loans under a LLC
Good Evening BP!
I talked to my lawyer today to finally set up a LLC to add another layer of protection against liability. My concern now is, how difficult is it to obtain a loan from the bank under a LLC versus under my own personal name? My lawyer advised me that it will be harder buying a property under the LLC. He said I could also purchase a property and later transfer the deed over to the LLC with a $150 fee. How do you guys do it? Any tips or suggestions? I don't have deep pockets to fund all my properties with cash and will have to rely on financing in order to expand.
Thanks in advance,
Navid