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Updated about 6 years ago on . Most recent reply

Philip Katz's profile image
Philip Katz's profile image
Philip Katz
  • Investor
  • from Stamford, Connecticut
  • Member since May 21, 2016
Connect

User Stats

40
Posts
9
Votes
Philip Katz's profile image
Philip Katz's profile image
Philip Katz
  • Investor
  • from Stamford, Connecticut
  • Member since May 21, 2016
Connect
Philip Katz
  • Investor
  • Stamford, CT
9
Votes |
40
Posts
Private Lending & Conventional Mortgage Advice

Financing commercial property

Philip Katz
  • Investor
  • Stamford, CT
Posted

I'm looking into buying a 5 unit complex. I will be partnering with 2 other people in a LLC.

what factors go into securing a loan for such property? Does individual credit and financial records matter? Or can we get a loan purely based on the property history and cash flow? Also, if things go bad (say it goes into foreclosure), would fallout affect individual credit, or would individuals be responsible in anyway? 

I'm hoping all financial impact is restricted to the LLC itself. Curious how people operate with such LLCs.

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