Loan for Real Estate Property Under New LLC GALVESTON, TX

3 Replies

Hi, all, 

I am a home owner and travel nurse that rents my property out in Colorado Springs, CO on a short-term basis through AIRBNB. My house, in the 2 years, has appreciated about 80K. 


I am looking to purchase a property in Galveston, TX under a new LLC I am going to create in Texas. I was wondering if anyone had connections to lenders that would be interested in providing a business property loan to a new LLC.

I'd appreciate any input! 


Shannon

Shannon, 


My partner and I just opened an LLC for investing purposes in Galveston so we can help you with that if you need (we are also both local agents if you need help finding a place!). We also have contacts with the best cleaners on the island - shameless plugs haha.


IF you're just doing to open an LLC just to do it like a lot of people seem to do on the forums, and this is your first or second investment, I highly recommend not doing it, just because the lending rules change and the rates for commercial products go up. You can easily protect yourself with insurance and not need the LLC for protection with a low amount of assets.

Message me if you have any questions

Karl

If you are able to get the loan using a conventional loan and not having it be in the name of an LLC that would likely get you a better rate and lower fees. If that is not an option due to DTI or anything else I would be happy to assist you in getting it financed in your new LLC. But again if you can go conventional I would suggest going that route first.