Co Sign for Multi Family?

[David White]

Good evening everyone,

Is it possible for me to purchase an 8 unit building in my newly formed LLC (having not purchased any properties this way yet), and have someone else Co sign? Also, if this were possible, would the co signer be able to provide proof of funds and not have to have their credit checked? They are plenty liquid enough to where they could buy this particular property out right, but they do not have the time to go through the hassle of the traditional lending process...

[Dave Spooner]

@David White If you're getting a loan through a bank, your cosigner is going to need to go through almost the exact same application process you will as the primary signer on the loan. They're going to want to take a look into the cosigners finances: credit history, debt to income, assets, etc.