All Forum Posts by: Ryan Tortorich

My brothers and I don't have an agent because we wanted to reduce any expenses (i.e. agent commission) we could since we are just starting out. However, the listing agent is claiming that she "will be held responsible for any liability for both parties" since she is "the only agent in this transaction." Please note that we have explicitly stated that she is not our agent. However, she is insisting on dual agency for liability purposes. Is this normal? Do we have any around this?

@Michael Anderson @Tom S. @George Despotopoulos

Thank you all for the information. We're going to start making some phone calls to local lenders to get some information. With a personal guarantee, that just means that the lender can come after me personally if the company can't make payments right? But outside of the loan and our relationship with the lender, we would still be protected legally by the LLC.

First post! Hey BP!

My brothers and I recently established an LLC for REI. From what I've read, loans to brand new LLC's aren't going to happen. Maybe we'll have to buy property ourselves and then transfer to the LLC? After some time, will a lender recognize the LLC as an established entity and then offer loans directly to the company?