community bank

[Chadi D.]

I spoke to a local community bank officer to get a loan under my name . He said they will lend only to LLC under commercial loan to fund even a SFR or a Condo ?? I thought they prefer to loan to individuals instead to LLC ? Any thoughts ??

[Mark Creason]

Chadi,

As a lender, we typically like to see a bankruptcy remote single property entity as the holding entity for the property.  The reason is, it will be harder for any other properties to drag down this property if you have financial difficulty.

Mark