Obtaining a loan as an LLC

[Sarah Wood]

Some friends and I want to start an LLC as a real estate investment company in New Jersey and obtain a mortgage through the LLC. After doing a bunch of Googling, I am finding differing answers as to if this is possible or not. Does anyone have first hand experience with this? Thanks in advance.

[Dave Spooner]

@Sarah Wood Anything is possible - you just have to find a lender willing to do it! In all likelihood, without any assets or credit history to it's name, a bank is going to have a hard time giving your brand new LLC a loan. They're going to want at least one individual to sign for the loan for underwriting.

But it does depend on where the money is coming from.