Updated almost 9 years ago on . Most recent reply
Commercial Lenders vs Private Lenders & LLC utilization
Hello, I have 2 LLC's setup to shelter assets and limit liability. Originally, I planned on using traditional fixed APR term financing for my future properties. However, I am finding most lenders offering a fixed APR for terms of 20-30 years do not allow them to be owned as "rental/business properties" under an LLC. It appears that I either lose my asset/liability protection of the LLC and keep them in my name or accept short-term (1-10 year) commercial loan financing at higher interest rates? Has anyone found a way around this and/or can recommend a bank/lending institution that does commercial loans for longer terms (20-30 yr fixed APR). For clarification, my goal is not short term gains through flips. I'm looking to buy, hold, and have long term renters. SFH in B+ neighborhoods, etc. Thanks in advance! Jonathan