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Updated over 3 years ago,

User Stats

30
Posts
8
Votes
Matthew Malley
  • Rental Property Investor
  • Wantagh, NY
8
Votes |
30
Posts

Primary Residence and LLC

Matthew Malley
  • Rental Property Investor
  • Wantagh, NY
Posted

Im currently in the process of purchasing my primary residence and have about a month until closing.

I am also a part of a 3 person LLC that owns and manages a STR property - I own 40% of the business. We're also in the final stages of purchasing another STR unit (bringing it to 2 total). Both units were purchased under an LLC and are personally guaranteed by the other LLC members.

Do I need to disclose this for my primary residence? My mortgage broker is saying that I do not since it is personally guaranteed by the others.

Looking for second opinions and appreciate the help.

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