The terms of lending to an LLC will be different than the terms of a residential loan, so be cognizant of that.

The rule in lending is you will always get a lower rate and a higher LTV loan to value on your primary home.So if you tie up money in a smaller investment and then need cash your limited by two factors the loan size and the Non-owner occupancy if it s a rental you get a lower LTV.

This is a great forum with very knowledgeable members that will help to guide you in the right direction, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Purchase price: $1,200,000 Cash invested: $600,000 Private money lending to refinance condo What made you interested in investing in this type of deal?

We want to start buying multi-families to do airbnb or long term leases, but we are having a super hard time getting the few banks in Puerto Rico to lend us money with our LLC, they take a lot of time to respond to our emails.

Is it normal for banks to lend to us based on just our W2 incomes?

I know lending requirements have gotten stricter with COVID but any recommendations would be greatly appreciated.

If a family member is lending me money to go towards a downpayment on my next investment, do I need a lawyer to create the promissory note?

An institutional lender would work on a similar draw schedule but might lend at a higher LTV or change the draw structure.All that being said...don't get too bogged down on the details yet. 

They can see this on the title transfer, now while lately they have been turning a blind eye to this you bet when these foreclosures start to pick up like they are and banks start tightening their lending again they will start to call those loans in.