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Updated over 1 year ago,

User Stats

19
Posts
17
Votes
Carissa Holmes
Pro Member
  • Rental Property Investor
  • Driftwood, TX
17
Votes |
19
Posts

buying a 2-4 unit under LLC in texas

Carissa Holmes
Pro Member
  • Rental Property Investor
  • Driftwood, TX
Posted

Newbie here! and ready to "Professionalize" a bit - I've purchased a few properties over the past few years in my personal name. I want to make the next purchase - a 2 - 4 door property in Texas - in my LLC's name (also based in TX).

My primary question is: how does the process of acquisition (soup to nuts - your details will not be wasted on me!!) differ between these two “buyers” (residential funding vs. commercial). For example, proof of funding - with a loan in my personal name, I get a pre approved, and my agent on the deal sends that pre-approval along with my offer(s) yes, I generally submit more than 1 :) and the process moves forward from there but how do I show a seller (likely another investor) as well as the agent(s) I engage with that I have access to the financing to make the acquisition. 

Adjacent question - Am I correct in stating that (based on the above), I am looking for a residential property that I can purchase with commercial financing?

Thanks (a bunch) in advance!

Carissa

  • Carissa Holmes
  • Loading replies...