Multiple properties with different partners under one LLC?

[Corey Meyer]

I currently hold a property in an LLC without any partners. I am getting ready to buy another investment property with the same criteria as the property in this LLC and would like them to be grouped together for financial reporting etc.

I will be purchasing this property with a partner. Can we buy with my current LLC that holds an asset my partner has no ownership in? Perhaps I can have my attorney draw up a partnership agreement for individual properties within one LLC?

Also, if the partner is carrying the financing, should I be on the mortgage? As a co-signer? Does it matter? In my knowledge it shouldn’t, as long as I am represented on the Title of the property.

I will be helping my partner secure financing and will walk them through the bank process. If we get a traditional loan, is it possible to get financed with a partner under an LLC?

My partner doesn’t have any real estate holdings and will qualify for traditional financing. I like the low rates and long-term loan as we are going with a buy and hold 5-10 year strategy.

Or is commercial lending the route to take with partners? The current property held in this LLC was financed by a commercial loan.

Thanks,

Corey