How does investing in an LLC effect your ability to borrow?
I'm a commercial real estate broker and investor. My current portfolio is a 3 unit apartment and 3 single family houses that all have debt on them. I'm currently qualified to buy a primary residence and am saving up the down payment. My company currently leases an office building. We have decided to purchase an office building and move out company into that building. I like the idea because I am a partner and currently pay for my portion of the company's overhead so owning the building would keep some of that money in our pockets rather than a landlords. OIur company would sign a 10 year full service gross lease with 3% annual increases. We have procured a non recourse loan for the purchase of the building and will have all of the partners form an LLC contribute to the down payment to fund the purchase.
My question is, how does owning an LLC interest in a property effect my ability to borrow in the future? Will this effect my ability to qualify for another small apartment or single family rental? If the loan balance would be $2,600,000. Would this loan debt count for all the members of the LLC? I am assuming no since the LLC would be the entity on the loan. When procuring future Fannie Mae loans would I have to show that I have reserves set aside for my share of the LLC? Are there any other ramifications of buying into the LLC that will effect other future property investments?