Where do I get loans to buy rehabbs with llc?

[Tony Ku]

I read here that most banks will not give loans when buying with llc?

[Luka Milicevic]

When J Scott speaks: listen!

I have had the same experience with large/small banks

Large banks have their rules set and the loan officer can't budge. They have to follow what their bank has set, and usually their loans are difficult if not impossible to get for what you are looking

The community banks are the way to go.

In my experience: the small banks I have dealt with are so much more open to lending for investments, in fact, one bank I worked with had an investment loan specialist. He only dealt with investors.

They allowed loans to be put into an LLC, that 2 larger banks wouldn't allow me to do. They had required it be in my name.

On the flip side: since they are doing portfolio loans, they might not offer fixed interest rates. If interest rates rise, they have to increase their payouts on deposits, and if you have a fixed low rate, then the bank won't be in business very long.

Something to consider if you planned on a fixed rate, but if you are flipping, it shouldn't be an issue. In addition, their terms might not be as long as larger banks. The small bank I worked with had a 20 year term (Max). But again, if you are flipping this shouldn't be much of an issue.