Taking a loan from an LLC partner

[Daniel Kent]

Hi all and Happy New Year!

Hopefully this isn’t too confusing....

My partner and I own a single family rental in an LLC. Let's call this property 1. He has 75% equity and I have 25% equity, as we both contributed capital according to the percentage split. We are looking to close on another property (property 2) with the same 75% - 25% split. I would like to leverage my 25% equity from property 1 and invest that into property 2.

- Would I be able to take a loan leveraging 25% in property 1 (with my partners consent), while he does not leverage his 75%?

- is it possible for my partner to also be the lender? So he contributes the capital for his 75% equity in property 2, and my capital comes from a loan from my partner (with a loan agreement, payment schedule, etc) and essentially a lien for my 25% of property 1?

What I am not sure about is can one partner take a loan against a property, or do both partners need to?

Can a partner in an LLC lend to another partner in the LLC to purchase a property the LLC will own, using another property owned by the same LLC as collateral?

I hope this isn’t too confusing. Look forward to hearing some input or clarifying if need be,

Thanks!