Bank loan:25% down using a new LLC with a personal guarantee?

[Ed Kowalchuk]

I am returning as a real estate investor who sold my investment property held as individual 20 years ago. So this is like starting over for me again under different circumstances. Since I now have significant outside assets to protect I would like to invest using a newly created LLC. I own my primary residence, have other stock investments and no debt. My wife and I also have w2 income that offers several times the payment coverage for the loan I am seeking.

If I open a Nevada LLC, register it to do business if Florida, will I be able to get a conventional loan for an income property with 25% down if I am willing to provide a personal loan guarantee (credit rating 800+) ? If not, do you have any suggestions?

Edward

[Carl C.]

Conventional loans with an LLC is a craps shoot with lenders. Some may be open to it but I suspect as a "new" investor with them, the best you might get is a 20 year amortization with interest rates resetting at 5 or 10 years. I just did this exactly with personally guaranteeing the loan and high W2 income. Once I have a record with them it seems I might get a better deal but this was a good as it would get starting out with them.