Who finances LLC's?!?!
Hello All,
I am having a really foggy time understanding the process of getting loans for my newly established LLC. There is an offer I want to consider in Memphis, 4 rental properties, asking for $55k down, $120k financed with the following terms: 30 yr, 5yr balloon, 10% interest. So, where I really need understanding is, 1) wanting a loan for the $55k, who would finance that, and why? Hard money, commercial, private money, another lender I'm unaware exists?! 2) being a newly established llc, is that an issue for "whomever" will lend, to lend to us? 3) traditionally and strategically, how are you guys utilizing each of the aforementioned lenders (just so I can better understand)? 4) are those terms reasonable, expected? 5) should I seek to get the entire $175k financed by one lender, for better terms? Thanks so much in advance!