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Updated about 1 year ago on . Most recent reply
Buying a home with a personal loan from your own LLC?
Hi,
I was wondering if you could get a construction loan with an LLC. Build a home and then purchase that product with a personal conventional or FHA loan?
Most Popular Reply
@Kevin Sobilo I am not well verse in financing options, so I am probably over complicating this. I will give you the exact scenario that I am working with.
I would like to purchase land for 90 K cash. Take out a loan to build 4 homes on the property. Then use a multifamily FHA loan to pay off the loan I used to build the homes to hopefully lock in a better rate. My family and I would live in one of the units in order to be able to do this, and there would be an additional 3 units in order to get the full amount of the FHA loan.
Like I said, I am probably way over thinking this, and this is probably not even possible, but I appreciate any advice.