Hello Everyone,
I have a question for the seasoned investors out there. A buddy and I started an LLC with the primary focus of buying and holding real estate properties. In hindsight I wish I researched further about my question before creating the LLC, however, that itself was one lesson of many to come that have been learned.
Question - We are interested in getting mortgages in the LLC's name while personally backing them with our credit/collateral/income etc. We would like to do this because we want to start building credit for our LLC, with an overall strategy of buying homes and renting them continuously.
Has anyone out there done this before starting out? What we are currently doing right now is compiling a list of all potential lenders in our area, and splitting them up and going in person to talk to them about our situation. Our belief is that someone will possibly be willing to step outside the normal red tape around investment/mortgage lending and work with us.
I am interested to hear others opinions/stories/views on the question and issue we are facing thus far in terms of getting lending for buy and hold in an LLC's name.
Thanks in advance for your time!
