Updated over 7 years ago on . Most recent reply
Long Term Financing for 3-unit LLC in Chicago
I am currently rehabbing a 3 unit property in Chicago. My partner and i are holding title in an LLC. I am looking for long term financing once the rehab is complete. I assume we will need to use some kind of non recourse financing. Are there any bank recommendations i could explore?
Most Popular Reply
Echoing the above. There are options to hold the property in an LLC, but with a recourse loan/personal guarantee. Can explore a trust too, but depending on number of properties you have and size of this one, might not be the most cost-efficient solution. Happy to discuss further, feel free to PM.