Unable to get a home loan under LLC
Hi there, my brother and I have just formed an LLC with the goal to flip a property. This will be our first investment and have found that we cannot get a loan under the LLC without 2 years of P&L statements.
We have the funds for renovation but not for the entire loan amount. Is it possible to take out a mortgage under our personal names and then convert it to the LLC later? What do most people do in this situation?