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Updated over 3 years ago,
LLC receive a loan to fund a down payment?
Hello BP,
My partners and I are equal owners in an LLC that we intend to use for real estate investing and we're thinking of creative ways of financing a property. An idea we had was to seek out a portfolio loan from a community lender. My understanding is that we would typically be expected to pay somewhere between 20-25% down on a property in this case. We were then thinking of finding another lender to fund a portion of the down payment.
Does this approach sound like it would make sense? Would portfolio lenders not like to see a down payment partially financed by some third party? How difficult would it be to find a lender to help finance a down payment?
Thanks in advance!