If you’re doing a JV, do you apply for HML separate or together?

[Mike Schorah]

If you’re doing a joint venture, do you apply for the hard money loan separate or together?

And why?

[Andrew Postell]

@Mike Schorah you apply with the company you created.  The loan is in the company name.  Many hard money lenders won't even lend to you personally (but some will) so lending to the entity is the industry standard.  Having it in the company name means it's not in your personal name....that means the debt doesn't prevent you from doing other things if you need to go apply for a loan somewhere else.