Loan Suggestions for Duplex in FL

4 Replies


I'm buying my first duplex in FL and I'm looking around for a mortgage. I'd like to buy as an LLC and take the debt as such (with a personal guarantee). Any suggestions as to which bank/lenders to reach out to? Credit scores and income aren't a problem, fortunately.

Thanks for the help!

For a duplex it won’t matter. The banks treat it like a residential mortgage. 

@Michael Frankel If you are financing to an LLC you will need a portfolio or commercial loan. Conventional loans being sold to Fannie or Freddy won't allow a loan to an LLC and as such contain a Due on sale clause. This clause allows the lender to call the note due if you change the tittle to an LLC. That being said these loans are found at small banks and credit unions. While big banks may have them they are tougher to deal with. Hard money in my experience is too expensive for long term loans. RR

@Michael Frankel - I've financed all of my 82 rentals through my LLC's with different private capital groups. Rates are higher than a local bank but lower than hard money and far easier and quicker to qualify. Message me if you want some suggestions.

@Michael Frankel you have a few options it just depends on property and personal profiles. Please PM if you want additional information.

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