Financing a Project Through a LLC

[John Whitridge]

Hi BiggerPockets, I am looking to finance a deal for a single family home through a LLC that I am setting up which seems pretty straightforward. I am using a hard money lender but do not have all the money myself so I am looking to bring on a partner to help finance the deal.

Based on the research I have done so far it seems like the easiest option is to pool our money together under the LLC and have the LLC take the hard money loan. Is there any advice or pitfalls to be weary of when doing something like this? Or is there a better strategy to pooling money together for a loan?

Looking forward to hearing some great advice!