We formed a LLC Investment Company in early 2020. Have purchased 8 properties since then, but all have been cash deals. Looking for continued growth in 2021, but looking at using financing for additional properties. We are hearing the lending options to LLCs are limited. Before I do my full jump in research I wanted to hear feedback on anyone else who has completed the lending process as an LLC.
For reference, 6 of our properties are in North Carolina and 2 in Florida. Growth would most likely happen in these 2 states based on “support teams” we have formed that are working well for us.
Open to hearing more. Thanks.
@Jenni Villane Are you asking about bridge lenders (private or institutional hard money lenders) or are you asking about banks to refi?
@Adam Schneider Hard money institutional lending is what we are focused on. Not a refi situation at this time. Thanks for the reply.
Most lenders will only work with LLC's or Corporations. You have to be an entity to work with my people. We have resources you can use to obtain your entity as well.
@Nate Marshall I would like more information on how to create an entity from my LLC. Or if it's possible?
You should continue what you're doing. Sounds like you're doing fine. What issues are you running into?