Posted by marc on September 03, 2003 at 21:21:33:
My question is related to this one. I own several properties but they are all in my name. I have recently started an LLC to put the properties in. I am a little concerned about the lender pushing the Due on sale clause. I am really looking for some advice as to what the view of the lender might be and what to expect when I transfer title.
Lenders and Limited Liability Company (LLC) - Posted by Antoine
Posted by Antoine on September 02, 2003 at 14:31:41:
I have created an LLC to hold my rental property. The mortgage company would not lend money to the LLC because the only asset it had was cash. However, I got the loan in my name and transfered the title to the property to the LLC at closing. How many properties do I need to get in my name before a lender will feel comfortable lending money to my LLC? Any help is appreciated, thanks.