Loan Strategies: Using Personal Loan for LLC Owned Property
I was curious to see if it's possible to use personal leverage to put a down payment on an investment condo unit, but to purchase it using an LLC. The idea is that I would get a much better rate using my personal history. I think any type of commercial loan would have higher rates. Also, I could "cash out" another property (personal) to get enough for a down payment on a new property (under an LLC). Has anyone done this before? Is this a situation where I would assign the purchase during closing from personal to the LLC? Would this defeat the purpose of the LLC to protect me personally?
Thanks in Advance!!!
Kevin