Investment Property Financing

[Tanikka Myers]

-Both my partner and I have 750+ credit scores and created an LLC. We are looking to acquire a duplex/triplex and are seeking funding advice.

-Is it better to obtain financing through a traditional mortgage, transferring the deed to the LLC or purchase under the LLC? If we decide to go the LLC route, what is the best way for us to obtain funding as a new LLC?

-Who are some of the best Alternative Lenders/ Private money lenders in Philadelphia, PA, or out of state that will lend to Philadelphia Properties? 

-Who are some investment friendly mortgage brokers for PA?

Thanks in advance for all advice! 

[Troy Sheets]

Originally posted by @Tanikka Myers:

-Both my partner and I have 750+ credit scores and created an LLC. We are looking to acquire a duplex/triplex and are seeking funding advice.

-Is it better to obtain financing through a traditional mortgage, transferring the deed to the LLC or purchase under the LLC? If we decide to go the LLC route, what is the best way for us to obtain funding as a new LLC?

-Who are some of the best Alternative Lenders/ Private money lenders in Philadelphia, PA, or out of state that will lend to Philadelphia Properties? 

-Who are some investment friendly mortgage brokers for PA?

Thanks in advance for all advice! 

You're not going to get funding with a new LLC unless you're talking hard money, which is a terrible choice for buy/hold. Transferring the deed is problematic, especially in Philadelphia (4% transfer tax), and it likely breaks the DOS clause in your mortgage. Do a search, this has all been discussed ad nauseam on BP, including the viability of an LLC protecting you from liability. Common wisdom is to put the property in your name(s), get plenty of insurance, and don't be a slumlord (maintain your property well).