Obtaining financing as an LLC (HML?)

[Muz Khan]

Hi all,

After some research, im having difficulty realizing how my business partner and I will be able to finance our first deal. We haven't done any real estate transactions before, so the future deal we do will be our first. In the mean time, we're building our team, fleshing out our LLC, and are planning to talk to a real estate lawyer and CPA in our area.

The biggest issue we're coming across is being able to obtain financing for a deal. We have approx $50k saved up between us for down payment and renovation costs. It seems as though HML dont lend to first timers, and finding private money seems to be a challenge, especially since our plan is to buy the property under the LLC.

We are planning to attend REIA's in our are as well to expand our current network, but any other insight on this is much appreciated.

Thanks,

Muz