Financing question for out of state rentals

[Carlo D.]

I'm thinking of buying my first out of state rental. Quick question.. if I just incorporated, on what basis would I apply for a loan on? Would it be under the business tax id number which would be brand new (so no history yet) or would it be through me personally through my own credit report/history? What if I have a partner in the business? Thank you in advance.

[Patrick Drury]

@Carlo D.
If you are buying a property in an LLC the loan is going to be some type of non-qm or DSCR loan. Something to keep in mind is the rate is higher with these. Check the forums for the debates on buying in your personal name and quit claiming it to LLC after closing. This is an option, but it's not for everybody. If you do decide to do it you can get better rates on conventional loans.