Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

8
Posts
0
Votes
Jiwei Yang
0
Votes |
8
Posts

Taking out a loan for an LLC

Jiwei Yang
Posted

Hello, 

I am new to the rental game and decided to create an LLC for future use. I am having trouble figuring out how to get a loan for an LLC. My broker told me that generally, an LLC with no credientials will have a really hard time finding lenders. How do I gain creditbility with my LLC outside of having cash on hand to buy a property outright under the LLC? If I just placed my income into the bank of my LLC then will that count as credibility? I feel like I am interviewing for my first job again; how to I have experience when this is my first job haha?

Thank you, 

Jack Yang 

Most Popular Reply

User Stats

864
Posts
554
Votes
Jake S.
  • Rental Property Investor
  • Minnesota
554
Votes |
864
Posts
Jake S.
  • Rental Property Investor
  • Minnesota
Replied

Hey @Jiwei Yang! It is usually more difficult to get a residential loan to an LLC. You could just get one under your personal name and later file a quitclaim and transfer title into the name of the LLC.

There is a slight risk that the bank could call the loan due, but it is not likely

Loading replies...