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Updated over 8 years ago on . Most recent reply

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Vincent Milano
  • Sicklerville, NJ
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New member from South Jersey

Vincent Milano
  • Sicklerville, NJ
Posted

Howdy. Civil Engineer by day, FIRE (financial independence retire early) seeker by night. 9 month reader and first time poster. Currently close to purchasing a two unit buy and hold rental investment property in Delaware County PA. 

Partner and I just formed our LLC. Having trouble getting a loan for $60k in the LLC name. Any tips or leads?

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James Masotti
  • Rental Property Investor
  • Washington Township, NJ
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James Masotti
  • Rental Property Investor
  • Washington Township, NJ
Replied

Check the credit unions. That's how I got the loan in my LLC. You need to talk to the commercial lending departments. You'll never get a traditional mortgage under the LLC's name. Commercial terms will come with higher interest, shorter terms, and shorter amortization.

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