Commercial Lending from US Bank

4 Replies

How has been your experience with US Bank? They are trying to undercut everyone in my current deal, but they are not giving me a rate lock. Not sure if they will turn around and raise the rates at time of closing. If you have any experience with them please share.

@Gary Bahl - I've used them for one commercial loan and the experience was okay.  They ended up giving me a better rate and longer amortization than anybody else but it was much more of a pain in the butt than working with local lenders I have relationships with already.  There were a lot of ticky tacky fees and extra headaches.  Overall, it was worth the hassle, but not by much.

@Michael Seeker I am undecided if I should register the investment property on my and my wife's name or LLC name and keep LLC purely for rental business with property management company? thanks in advance for your point of view.

Originally posted by @Gary Bahl :

@Michael Seeker I am undecided if I should register the investment property on my and my wife's name or LLC name and keep LLC purely for rental business with property management company? thanks in advance for your point of view.

You may want to look at tax considerations for LLC vs non-LLC. I believe in most cases you'd be looking at roughly a 20% savings by holding in an LLC. I'm no tax expert so don't take my word for it though

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