Updated over 2 years ago on . Most recent reply

LLC Creation For Rental Properties
Hello,
I am wondering if I need to create an LLC or keep adding rental properties under my name. My worry is that when I reach the maximum of Freddie and Fannie's conventional financing I will need to either look elsewhere for good terms for funding or free myself up somehow. Not sure if I need to get an LLC I just want to prepare myself for when the max happens. Maybe I will need to get one portfolio loan to group up all of the properties. I am looking at expanding into other markets. Does an LLC need to be in the state where the properties are located? Would I need multiple LLCs? Looking forward to hearing from the community!
Most Popular Reply

How many mortgages do you have? Are you close to 10?
Are you married and does your spouse work and can get mortgages too?
From my ~20 years of experience—here are few things you can consider:
- There are options to mortgage more than 10 properties, it will mean getting a bit creative.
- Consider buying 4-plexes, it's almost like buying 4 houses in one transaction and in one mortgage.
- If you have close to 10 already (or when you have ) you could be able to bundle all or some under an blanket mortgage and releasing the # of mortgages you have.