Looking for local lending company that lends to sole-owner LLC investing in local residential real estate investment(s). TIA.
are you not willing to sign a personal guatantee? if so, most should be willing ( I would think)
Valley National Bank?
Personal guarantee is fine. LLC is for the liability protection related to the property / tenants itself.
oots said:are you not willing to sign a personal guatantee? if so, most should be willing ( I would think)
Is that a guess or you know from experience?
yahooyahoo said:Valley National Bank?
Purely a guess. But they are local and I know they originate residential mortgages.
Lending to an LLC is more of an "outside the box" situation. It's not handled by the regular lender sources. In fact, it usually is either a proprietary loan or handled by a commercial lender.
I'm a local residential mortgage professional. We actually have a Fix & Flip product (provided through our commercial division) that allows investors to buy and rehab homes for investment purposes.
Please feel free to email me if you'd like more info. Smaloney@financeofamerica.com
FYI, they do not.
yahooyahoo said:Purely a guess. But they are local and I know they originate residential mortgages.
Fully renovated 3 Bedroom 2 Bath in desirable Maplewood location
3 Bd | 2Full Ba$3,000