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Private Lending & Conventional Mortgage Advice

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Joshua Springer
  • Residential Real Estate Agent
  • Columbus, OH
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281
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Any legal/financial reason to have mortgage under LLC

Joshua Springer
  • Residential Real Estate Agent
  • Columbus, OH
Posted Aug 27 2014, 14:02

My first rental I put under an LLC with a partner, my second was conventional with my wife, the next one i'm working on with my LLC partner should be moving forward soon. I originally had anticipated putting the loan under an LLC again but are there any legal/financial advantages of closing under the LLC name vs conventional?

My original one was a non-conforming condo so had to do a portfolio loan on it anyways so it just worked out to close under LLC. I originally intended to continue to do that to keep everything seperated for legal reasons but If I seperate everything anyways and just do conventional financing and quit clame am I really taking on any additional risk?

Thanks for any comments!

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