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cincyloanguy
135 Posts |
 Posted - 07/28/2008 : 11:38:09 AM
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| I have a client thats doing a 1031 exchange and needs to buy 3 houses inside of an llc. Does anyone do this loan? |
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dtabar
768 Posts |
Posted - 07/28/2008 : 11:39:04 AM
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| unless it's hard money. All of the loans avaiable will need a personal guarantor. |
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CoralSnake
10880 Posts |
Posted - 07/28/2008 : 11:40:29 AM
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quote:
Originally posted by dtabar
unless it's hard money. All of the loans avaiable will need a personal guarantor.
I think he just want title in the LLC.
Most of the time hard money want a personal guarantor anyway. |
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cincyloanguy
135 Posts |
Posted - 07/28/2008 : 11:54:28 AM
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| i just need the property to be titled we can make a personal guarantee. |
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CoralSnake
10880 Posts |
Posted - 07/28/2008 : 11:55:36 AM
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| Emigrant does it if they lend in that state/county. |
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cincyloanguy
135 Posts |
Posted - 07/28/2008 : 11:59:23 AM
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| do you have any contact info for emigrant? |
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sc312001
1048 Posts |
Posted - 07/28/2008 : 3:35:46 PM
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flickc@emigrant.com
I think Sovereign Bank PA does them too. |
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dwmordue
430 Posts |
Posted - 07/28/2008 : 3:50:28 PM
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I had a real estate investor who wanted to buy in an LLC for 2 multi unit properties. He already had a bunch of rentals and could not qualify for an new FHLMC loan.
I ended up doing his loans through Wells Fargo Commercial. They do SISA to like 65 or 70%, no origination fee, $895 + Title was the total closing costs. They will do anything from 1 unit to huge multi-units, but have a max loan amount of $500k. |
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