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Updated about 5 years ago,
LLC and getting a loan
Newbie here. Looking to get into multi family properties. I need some direction regarding LLC's and loans. Almost everything I read says in many cases an LLC is a good idea to protect your personal assets. However in most normal scenarios you can't get a loan under an LLC.
Assuming I don't have the funds to purchase outright or the networking to get partners and/or investors, do many people just starting out not have an LLC under their first property until after it is paid off? Is this something I really need to be concerned about?
Thank you,
Tracy
Assuming I don't have the funds to purchase outright or the networking to get partners and/or investors, do many people just starting out not have an LLC under their first property until after it is paid off? Is this something I really need to be concerned about?
Thank you,
Tracy