Does anyone have referrals for investor-friendly lenders that will allow them to warranty deed from their name to an LLC post-closing?
Fannie Mae and Freddie Mac guidelines allow for this but some lenders don't stay up to date...
@Doug Trumbull Most banks take this issue on a case-by-case basis. They have the leverage here because without their written consent, you can trigger the due on sale clause.
@John Spurlock Thanks John. It seems like I’m going to have to sell them on future business with me and a personal guarantee backed by liquid funds.
I'd like to use my LLC to protect my partner's assets (my dad) and make it easier to distribute profits and handle taxes.
If it’s too much trouble with lenders I’m just going to hold in my name with a strong insurance policy.