Ej, Home Buyer in 60640

What are the lending requirements for Investment Properties?

Asked by Ej, 60640 Sun Mar 11, 2012

We are a group of investors and are thinking of organizing as an LLC to invest in a few rental properties.
Does each member need to provide credit information and personally guarantee the loan?
Do we have to put extra cash into the LLC for reserves purposes? For the first unit we're interested in, we could buy outright but are looking to put 20-25% down.

Help the community by answering this question:


Your better off speaking with a lender about this. Feel free to call the Broker I work with. Here is his information.

Saul Pinela
General Manager
Office   630.629.0900 x7376
Fax      630.629.0901
Mobile  708.738.1464
Email    saulpinela@hotmail.com
Corporate Headquarters
One Trans Am Plaza Drive
Suite 510
Oakbrook Terrace, IL 60181
0 votes Thank Flag Link Fri May 18, 2012
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