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Updated about 5 years ago on . Most recent reply

Carlos Cuervo's profile image
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Carlos Cuervo
  • Rental Property Investor
  • from Knoxville, TN
  • Member since Sep 1, 2019
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Carlos Cuervo's profile image
Carlos Cuervo's profile image
Carlos Cuervo
  • Rental Property Investor
  • from Knoxville, TN
  • Member since Sep 1, 2019
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Carlos Cuervo
  • Rental Property Investor
  • Knoxville, TN
6
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Rehabbing & House Flipping

2 individuals with separate home loans

Carlos Cuervo
  • Rental Property Investor
  • Knoxville, TN
Posted

Is it possible for 2 individuals to get separate home loans & close in on one house? Or would it be easier to set up a Corporation in which we are both involved in and get a business loan for the house?

Please let me know, also additional information

This is in Knoxville, TN

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Will Fraser's profile image
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Will Fraser
  • Real Estate Broker
  • from Salt Lake City & Oklahoma City
  • Member since Mar 19, 2018
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Will Fraser
  • Real Estate Broker
  • from Salt Lake City & Oklahoma City
  • Member since Mar 19, 2018
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
Replied

Hi @Carlos Cuervo! It would be possible for the two individuals to get personal loans and purchase the home, but WAY easier to form an LLC and get a commercial loan to the LLC, made up of the two of you as individuals.

Commercial loans for the win!

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