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All Forum Posts by: Leo Hunter

Leo Hunter has started 3 posts and replied 11 times.

Foreclosures

Post: VA home loans and LLC

Leo HunterPosted
  • Bronx, NY
  • Posts 16
  • Votes 4

Hello BP,

I am fresh into the real estate game ( about 8 days old) and I am hoping someone has an answer.

I qualify for the veterans home loan in NYC. I am trying to set up an LLC and have it purchase the multifamily home for me. I am doing this because this is not the only property I intend to buy so I thought I should start off with an LLC now. The twist is that banks consider it a commercial loan and not a private loan, despite it being a residential property, is there a work around for this problem?

0 Votes