I am looking to borrow 250k to buy a 300k rental property which would be in a new LLC.
I currently own 1 rental property (250k) in an LLC and current home with no mortgages.
what would be the most recommended borrowing route for this situation? Would it be a equity loan of current owned rental, home equity loan, or a new LLC business loan?
Dee jay, others will ask also, why are you in LLC's when you only have two properties. The cost of leverage is higher and harder to get as well as a much cheaper umbrella insurance policy would cover your liability.
I know you can do a mortgages right now so cheaply I would take a standard mortgage if possible.