Buying under an LLC

Orange County, California
Buying & Selling Real Estate
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Buying under an LLC

Khoa Ha
Real Estate Broker · Garden Grove, CA · Member since 2017 · 159 posts · 55 votes

Hi BP,

I have purchased a few properties before. However, I have not done it under an LLC before. I recently put one of my triplex under an LLC but wish to be able to purchase future investment properties using the LLC to avoid going through all the paperwork to move it under afterward. Is this possible and if so which lender/what will they need in order for them to allow me to do that?

I just formed my LLC in 2023 and put a triplex under it this year so I have not file any tax return under it yet so how will the lender evaluate my LLC and underwrite for it?

Thanks,
Khoa 

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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
3y

@Khoa Ha

There are 100,000 posts on this subject. They will ignore the LLC if it's new and underwrite you and have you provide a personal guarantee.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Khoa Ha

    There are 100,000 posts on this subject. They will ignore the LLC if it's new and underwrite you and have you provide a personal guarantee.

    7e investments53 Reviews
    WebsiteView Page
    1Reply
  • Khoa Ha
    OP
    Real Estate Broker · Garden Grove, CA · Member since 2017 · 159 posts · 55 votes
    3y
    Quote from @Chris Seveney:

    @Khoa Ha

    There are 100,000 posts on this subject. They will ignore the LLC if it's new and underwrite you and have you provide a personal guarantee.

    Thank you Chris. I guess I didn’t search long enough I just saw a few posts a few years back and stop search afterward. Thanks for the info. 
    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y
    Quote from @Khoa Ha:
    Quote from @Chris Seveney:

    @Khoa Ha

    There are 100,000 posts on this subject. They will ignore the LLC if it's new and underwrite you and have you provide a personal guarantee.

    Thank you Chris. I guess I didn’t search long enough I just saw a few posts a few years back and stop search afterward. Thanks for the info. 

     no worries, did not mean it to come off as so sarcastic now that I read it again.

    7e investments53 Reviews
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    0Reply
  • Khoa Ha
    OP
    Real Estate Broker · Garden Grove, CA · Member since 2017 · 159 posts · 55 votes
    3y

    Follow up question, anyone know of a lender that will allow me to purchase under an LLC with my wife and I persona guarantors? I have the LLC set up with just my wife and myself as 50%/50% partners. We used to purchased our investment properties this way also. My current loan officer said conventional loan wont allow it so I am looking for some lenders that can do this. If you can point me to a loan officer that can help that would be much appreciated.

    Thanks,
    Khoa

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    3y

    Call up a bunch of 'portfolio lenders' in the area that you will be buying in.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
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