Buying under an LLC
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

@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.
Quote from @Chris Seveney: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.
@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.

Quote from @Khoa Ha:
Quote from @Chris Seveney: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.
@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.
no worries, did not mean it to come off as so sarcastic now that I read it again.
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

Call up a bunch of 'portfolio lenders' in the area that you will be buying in.
-
CPA
- Basit Siddiqi CPA, PLLC
- 917-280-8544
- http://www.basitsiddiqi.com
- [email protected]
