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Updated over 4 years ago,
Looking for Suggestions for Commercial Lenders
Hi. I have really good credit (personally, an 800+ credit score) and my record for paying my bills is stellar. The only potential issue is that I am a newbie and am looking to buy the first property. I am hoping for suggestions on commercial mortgage providers that would do a 30 year fixed, and that would have the mortgage in the name of my LLC, and not in my name. If not a 30 year fixed, then as favorable terms as possible. My main concern is to find something that won't force me to put the property in my name when I want to have it under the umbrella of an LLC.
The down payment is not a problem because I will be using my HELOC on my residence for it.
Private money is a good option if the terms are sane and decent. I realize that my lack of experience may be an issue in either case (a bank or private money for the source of the mortgage), but I do have mentors and lawyers to make sure I do this right, and I also will be using a property management company with a lot of experience. So I am very certain that this will work with the right arrangement.
Please private-message me if you have suggestions.
Thanks