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I am transferring all my rent to own houses to LLC. My question is can I get a mortgage in the future if I wanted to buy some houses to expand the business?
Asked
12 months ago
Anonymous
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1
My experience has shown that very few, if you can find any, willing lenders to loan to an LLC for investment purposes. If you do, you will probably have to personally guarantee and qualify personally anyhow. You may want to look more into commercial lending line of credit vs. a residential mortgage. You most likely can continue to get residential investor mortgages to buy houses and then after paid off, you can change to LLC. My guess is that the reason you may want to do this is for better liability protection which you can do with a substantial “umbrella” insurance policy.
My experience has shown that very few, if you can find any, willing lenders to loan to an LLC for investment purposes. If you do, you will probably have to personally guarantee and qualify personally anyhow. You may want to look more into commercial lending line of credit vs. a residential mortgage. You most likely can continue to get residential investor mortgages to buy houses and then after paid off, you can change to LLC. My guess is that the reason you may want to do this is for better liability protection which you can do with a substantial “umbrella” insurance policy.