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Updated over 8 years ago on . Most recent reply
Mortgage under individual and LLC
We have several people who want to do JV with us. I heard people who structure the loan such a way that the back-end loan after the initial bridge loan is under the passive investors credit. Basically the property will be a 50/50 JV between the LLC and an individual. The loan will be a recourse loan under the individual's credit.
Do anybody have success setting up such structures with regular mortgage loan? Some people suggested to get into a regular 50/50 loan as an individual and then transfer your share into a LLC. Don't want to do this since this is borderline illegal, and comes with risk of mortgage recall.
Thanks in advance.
Most Popular Reply
I have this information Rudy and am successfully doing this with three partners. Could we speak about it next week and share some ideas?