BRRR in an LLC-Financing options?

[Krystyna Fennelly]

We started savings accounts for our boys pretty early on and our 13 year old has a decent amount saved but it's making pennies.. I wanted to help/show him a better way of investing; Real Estate. Since he's a minor, we contacted my attorney and set up an LLC, 50/50 partners. I thought BRRR investing would be his best avenue so we started the LLC with only $5k each invested. Talked with a local bank about obtaining a LOC, approved, found house, purchased, renovations will be completed this week and now we are looking at finance options, 15-30 years in the LLC name. I believe the bank that provided our LOC will approve a mortgage loan for us but I want to look into all options. Would love recommendations. TIA!!

[Joseph Firmin]

Wow, this is awesome @Krystyna Fennelly! I'd love to do this with my son when he's older. You can definitely find a lender to lend to the LLC. Your interest rate will be higher but there are portfolio lenders like LimaOne, FlipSimpli and many others that lend to LLC's for 30 amortizations. Check with 5-10 "lenders" (essentially brokers) and see what you come up with.