I have 6 mortgages in my personal name and want to buy more income producing property given the deals available. My thought was to start an LLC and buy properties through the LLC. But, I have heard recently that the LLC will not help me circumvent the 4 mortgage rule.
Does this mean I will have to use commerical loans in the LLC?
I have an investor that has a similar problem. Obviously placing the mortgages in the LLC will free up your personal credit to acquire more property.
He had a very promising conversation with Branch Banking and Trust (BB&T). I do not have a direct contact but will be more than happy to forward your information to my client for a direct referral.
I did not get specifics regarding credit requirements for the company.
Feel free to leave your contact information with my office at (678) 731-8330.
I know a few local lenders who would love to do business with a substantial player.
Do you have a track record?
Overnight LLC with no track record? Welcome to the world of "put up or shut up" with downpayments that mean something.
You still looking in 30310?