All Forum Posts by: Sunayna Bashar

we 4 partners are planning to buy our first investment property in Ohio. any suggestion for lenders that would lend to LLC? few of the lenders i talked to only wants to lend to individuals. We don't want to pursue this as our first option to avoid headaches like title transfer, tax implication etc down the road. any suggestion from experienced folks would be highly appreciated.

Me and my other 3 partners are looking to purchase our first property through an LLC. we have the downpayment available so that's not an issue. I spoke with few lenders and all of them said it won't be much different than purchasing your primary home. However they would issue the loan only to individuals and it sounded like it is very unlikely to get the loan under LLC's name because that will have some pretty complicated terms that nobody would want to accept. they told me that we can get the loan personally and we can transfer it to the LLC afterwards.

now we patterns live in different states. how easy or hard it would be to transfer the property to the LLC later on? what kind of issues i should be aware of ahead of time and not find out later which could coast us a lot of trouble. looking for guidance from experienced folks.

Thanks for your response. I understand that for few initial deals myself or partners will have to guarantee the loan personally. but then will LLC be still able to provide me with limited liability. i am trying to understand what would be the function of the LLC in that scenario. how can we protect ourselves.

Hello there BP community. I have a 9-5 stable job. but want to get my feet wet in the real estate world for financial independence and flexibility that will better suit my lifestyle.

i have friends and family who are interested to invest as well and we are planning to share any workload, profits etc. equally. we are mainly interested in Multi Family.

my questions are,

1. since there are multiple people involved, is it better to form an LLC and then proceed?

2. since we are just starting out, is it possible to get a loan for our first property? Would anybody be willing to give out loan to a just recently formed LLC?

3. If getting loan is not possible for first few investments, is it better to look at cheaper markets and pay all cash?

4. Would the possibility of getting a loan higher if we do not form the LLC and apply for loan. lenders would probably look at our personal profiles individually? this is just an idea. i am not sure if that's even possible!

5. If we pay all cash, would it make any difference whether we form the LLC or not, assuming we have good understanding and offline written agreements among the partners? what could be the risks of not having an LLC in this case?