Rental Property Investor · Collingswood, NJ · Member since 2013 · 171 posts · 61 votes
Hello,
I recently acquired three residential rental properties in Tampa, Florida, and I am looking to get a commercial loan on them, since they are owned by my LLC. Are there any banks that you would recommend I contact for this type of scenario?
If you qualify for a loan at a bank, you are probably going to move your properties to your personal name to qualify and then back into your LLC to hold. It's just how most banks work as they will qualify your income, credit and assets personally. If you go through a private money lender, then you will not have to move your properties, in fact, many of us ONLY lend to entities to ensure the properties remain non-owner occupied.