Starting Rental Full-Time and getting mortgages as LLC
Sorry if I have a bit of a problem explaining my situation.
Starting mid August I will no longer have a FT at a company job with income.
I have a large amount of money ready to invest in Rental properties. (I have some properties in my SOLO 401K, but this is not about those)
I have equity in a couple of other personal properties/non-rental and know that I have a very high Net Worth.
However, I want to purchase these properties into my LLC which I have had for over 10 years, but the past few years the income filed were not that large numbers I used to have when that was what I did full time. So if the mortgage company asks for income from the LLC for the past 2 years, it will be really low. Whereas my W-2 from Work was high.
So I want the purchases and mortgages to be under my LLC, and without any more FT W2 income coming in, will I be able to get mortgages on these properties? Or do I have to do them under me personally (actually would be under revocable living trust because those other properties I have are under that Trust.)
I hope I have framed my situation. My question is more about suggestions or recommendations you might have on my best approach to get 30- year mortgages for these properties.
Thanks
Mark