HMLs without LLCs in Alabama

[Rick Albert]

Hello All,

Do all hard money lenders require the property to be in an LLC? I'm looking to buy a property quick and haven't had a chance to set one up. It would only be for six months anyways.

Thanks!

[Brandon Beardt]

Quote from @Rick Albert:

Hello All,

Do all hard money lenders require the property to be in an LLC? I'm looking to buy a property quick and haven't had a chance to set one up. It would only be for six months anyways.

Thanks!

 Hi Rick,

No, not all hard money lenders will require that the property be under an LLC, though some do. You are usually able to close in your individual name if needed. It would ultimately just depend on the lender you use.