Mortgage under individual and LLC

[Rudy Manna]

We have several people who want to do JV with us. I heard people who structure the loan such a way that the back-end loan after the initial bridge loan is under the passive investors credit. Basically the property will be a 50/50 JV between the LLC and an individual. The loan will be a recourse loan under the individual's credit.

Do anybody have success setting up such structures with regular mortgage loan? Some people suggested to get into a regular 50/50 loan as an individual and then transfer your share into a LLC. Don't want to do this since this is borderline illegal, and comes with risk of mortgage recall.

Thanks in advance.