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Updated over 7 years ago on . Most recent reply

User Stats

4
Posts
2
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Matt Dickson
  • Saratoga Springs, NY
2
Votes |
4
Posts

Proper financing to insure integrity of my LLC

Matt Dickson
  • Saratoga Springs, NY
Posted

I'm very close to pulling the trigger on my first property. I was speaking with a lender and they have a policy of NOT lending to an LLC. My question is this: if I get the loan through my name and transfer the deed to the llc, I'm still personally paying the mortgage, correct? If that is the case, does that situation undermine the protection provided by the LLC? If so, is there a way to make it legit? for example, my llc can pay me to pay for the loan, something like that? This stuff is confusing.

I did ask my lawyer this question, and he says not to worry. The LLC will still provide protection, but I just want to hear other people's ideas. Thanks.

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