All Forum Posts by: Victor O.

Thank you so much Llewelyn. Very helpful!!

Hi Guys!

So I bought off a legal 2 family house in Brooklyn which had an apartment upstairs but was taken out and everything was converted by the previous owner into one nice big house without any official permit to convert it.. I would rather marker it and sell it now as a 1 family house and sell it as is. Question is if a buyers bank will have a issue with this as the legal certificate of occupancy is listed as a 2 family with the city. 

Any input will be appreciated.

Thank you!

Thank you so much Frank! 

Hi everyone,

I am in the process of buying a 2 family investment property.

Anyone knows of a bank that offers mortgages on a LLC for investment property for less than 4 units , For a decent rate and decent LTV?

For many reasons i would rather have the loan on the LLC and sign personal guarantee than a standard loan on my personal name.

Thank you!   

Hi. You mentioned you took out the mortgage on the LLC and you signed personal guarantee... I am wondering if this mortgage is reporting to your personal credit file on a monthly basis.. I am asking because I am in the process of refinancing a 2 family investment property and debating between the option of taking the loan on the LLC and personally guaranteeing it or straight ahead on my personal name... One of the benefits of taking on the LLC for me is if it won't report to my credit file monthly. But the bank claims it will report to my personal credit monthly even I am just the personal guarantee and the loan and deed is on the LLC... But others claim it won't.