Rental Property Investor · Cresskill, NJ · Member since 2020 · 6 posts · 0 votes
Hello everybody,
For tax purposes, we are planning to make our investments under a new LLC that my wife will be the sole owner. She doesnt have any W2 income so this will be her only source of income / primary income.
my question is, can I be the guarantor for the commercial mortgage loans she would apply for through her new LLC? Even though I dont have any interest in the LLC? (and I dont want to have for tax purposes). Would credit unions / banks accept me as a guarantor through my W2 income?
Real Estate Broker · NE · Member since 2020 · 21 posts · 7 votes
5y
@Mete G. I believe you might be able to but it would depend on a few specifics. Depends on what your lender will allow or not, what your overall tax situation is from your various business interests and yearly tax filing protocol, and legalities can vary state by state. I would definitely reach out to a qualified CPA.