investing in clevelend heights

[Omri Ben]

hi

im an investor in 44118

i want to close on a deal for a single family home for investment , however banks refuses to give me mortgage on my LLC and the mortgage must be on my name as an individual.

however for liability purposes it must stay under my LLC.

the relator told me that if i close the deal on my personal name it can not be transferred later to an LLC as long as the lien(mortgage) is active on the property.

what am i doing now??

thanks :)

[Jeremy Tillotson]

You should connect with @James Wisehe is knowledgeable and local. To answer more your question you could have in your name with a large umbrella policy or some people simply quit claim the property to there llc after getting a loan, though the loan due on sale clause could be called. No legal or accounting advice.