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Updated almost 8 years ago on . Most recent reply

Brian Jones's profile image
Brian Jones's profile image
Brian Jones
  • Real Estate Agent
  • from Annapolis, MD
  • Member since Jun 2, 2015
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Brian Jones's profile image
Brian Jones's profile image
Brian Jones
  • Real Estate Agent
  • from Annapolis, MD
  • Member since Jun 2, 2015
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Brian Jones
  • Real Estate Agent
  • Annapolis, MD
0
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Creative Real Estate Financing

Borrowing within an LLC

Brian Jones
  • Real Estate Agent
  • Annapolis, MD
Posted

I have a credit issue which I am working on but will take some time. In the meantime I have access to a 150k line of credit that is interest only for 1 year. My question is can I buy a house cash with the Line of credit under an llc and then later refinance inside the llc and not have to worry about my personal credit?

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Juan Pernas's profile image
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Juan Pernas
  • from Miami, Florida
  • Member since Oct 31, 2014
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Juan Pernas
  • from Miami, Florida
  • Member since Oct 31, 2014
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Juan Pernas
  • Miami, FL
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Juan Pernas
  • Miami, FL
Replied

If you are the personal guarantor on that line, it will remain tethered to your personal credit.
A business line of credit (business credit is more difficult and tricky to build) is what will not require your personal guarantee and will not be attached to the owner.

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