Updated almost 5 years ago on . Most recent reply
Advice for funding first rental.
Hi everyone, looking for some advice for financing our first rental which will be a 2-4 unit for around $160k. We really love the idea of using our LLC but are really only comfortable with a 30 year fixed loan so that limits our options. No local banks have a long term fixed option and all of the nation wide lenders I have found through these forums seem very expensive and not many of them have very good reviews.
Looking for any advice on if we should just purchase with a conventional mortgage and not use an LLC, or attempt to transfer to LLC after (I know this can cause issues)? We already paid to have the LLC set up and we love the idea of the protection it provides. Not sure how to proceed but this seems to be the hurdle we can't get over. Would really love to hear anyone's stories or advice from this great community!