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Updated over 5 years ago,

User Stats

356
Posts
311
Votes
Allen L.
  • Rental Property Investor
  • Chicago and mainly invests in KS remotely
311
Votes |
356
Posts

Need a fix and flip loan under personal title

Allen L.
  • Rental Property Investor
  • Chicago and mainly invests in KS remotely
Posted

Hi guys,

I'm under contract on a great deal. Purchase price 44K, estimated rehab budget 40-50K, ARV 150-180K. However I've hit a wall on lending because I'm in the US on a work visa so I can't show self-employment income. If I create an LLC and take out a loan and rent it out afterward, the rental income would look like self-employment income and my immigration lawyer advised me against going the LLC route. So I'm looking for lenders that can lend fix and flip loan under personal title. I spoke to Lima One and they will only lend to LLCs. Wondering if you guys can recommend someone else that can do this?

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