Getting financing with LLC and new partnership
I'm in the final stages of rehab on a BRRRR property which I paid cash for and am looking for some advice on pursuing my refinancing options. Unfortunately my credit is not good enough for the refinancing aspect of the deal so I'm opening an LLC with my business partner for this and future properties. I heard that it will be nearly impossible to get traditional financing with an LLC, is this accurate? If so, what is the best way to add my partner to the deed to get the refi? And then transfer ownership to LLC prior to renting out? I heard the banks might have an issue with this as well. Keep the property in both of our names through out the entire investment? Then I'm vulnerable to lawsuits. Not sure how to structure my future moves and will be grateful for the advice. Thanks.