All Forum Posts by: Account Closed

@Stacy Raskin Renting it out and in Michigan

Hi, I'm looking to purchase a single family home with a partner and am trying to wrap my head around how to structure the financing on equal footing while purchasing through an LLC. My understanding is that by buying through an LLC, that one of us will need to personally guarantee the loan.

Is there an effective way to even the risk between us and keep the partnership on equal footing without one person having to assume all the guarantor risk? Can we both guarantee an individual mortgage since we will be equal partners in the business? Is the difficulty around receiving financing under an LLC minimized once a track record has been established within the partnership? Am I just off base about the best way to go about this?

This set up seems like it would be far too common to not allow for relatively easy financing. Any advice/guidance is much appreciated!