I was wondering if local investors in the metro Detroit area could share any names of local financial institutions that are easier to work with when it comes to changing ownership of a SFH or multi-family home building from Joint Ownership (husband and wife) to LLC (same husband and wife own the LLC).
I have been reading through books and BP forums that I should not waste time working with the big 4 banks as they typically are non REI friendly but look to work with local community banks/small credit unions.
I appreciate any feedback you could provide here.
True, big box banks are the worst I don't approach them for investing or even personal purchases when it comes to real-estate. You can get loan in an LLC but the term, rate, and product might be different than what you are looking for. You can get them in your personal name and deed them to the LLC or just pay for the commercial product. I have 3 institutions I usually approach when dealing with investing. It took a few days of driving and just going to all of the credit unions in my area.
@Erold Merko: specifically what are you trying to do and why?