Hey you all , I'm new to real estate investing and i just created my LLC in mid June. I'm looking for suggestions on funding my deals. Typically, I'm finding private money lenders who has all these fees, 20% down payments and high lender points . Do anyone have any advice or suggestions for me?
@Justus McQueen What type of RE are you trying to purchase? SFRs, Muti family, commercial. Unless you have other assets you need to protect or are looking to buy bigger assets, I'd close up the LLC and buy the properties in your name using residential mortgages.
The age old advice of start with the small local banks and work from there for a portfolio loan fits here.
A LLC doesn't fix the high DTI; you'll have to personally guarantee the loans. Hopefully your partner has better credit or some cash.
I'm focused on MHPs so I'm dealing with local and regional banks as well. Find a bank whose goals line up with yours and go from there.
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