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Saiph
07-04-2016, 12:54 PM
I started my LLC not knowing much in the way of getting a mortgage for my first investment property. It's been a few months and I talked with a mortgage lender and they explained how they cannot assign a mortgage to a business and that my rates would be better if I did a personal mortgage. I would have to go through a commercial lender to borrow under my LLCs name. So my question is, if I buy an investment property under my name can I accept rental payments under my LLC and then have the LLC pay me the amount of my mortgage payment. My LLCs account would then hold the security deposits and net income so everything stays separate from personal income and expenses. I would like to get cash flow in the LLC so that it will be easier to borrow under in the future.

grosa001
12-08-2016, 10:42 PM
I would avoid holding the property in your name personally, but not for tax reasons. As an LLC, you're going to be operating as a pass-through entity for tax purposes, so the reporting of revenue/income won't change much. The IRS isn't going to be checking property records to see if you really own the property you're reporting income on. But anyways - the big reason to hold the investment in the LLC is for liability reasons. If one of your tenants, a vendor, or pissed off neighbor sues you one day down the road and has the chance of winning the lawsuit, you do not want your personal assets to be up for grabs in the judgement. If held under the LLC, they can only go after the assets held by that LLC.

That said, when you invest in other properties you should create other LLC's for EACH property. This limits your liability exposure for each property. I'd say this is especially true for apartments, where you're going to have more liability issues than with single family rentals. That mortgage company just wants to write you a mortgage and sell it, they don't care. Go with a bank that does a good deal of commercial lending. You can ask the bankers in your area who does this -they all know which banks like what kind of loans.

Let me know if I can help anymore. I'm no expert by any means but I know a few things.

richards
04-13-2017, 06:42 PM
^^^ this is a pretty good answer.
That newby should get a raise. :)

unuvav98
04-15-2017, 07:18 AM
:cool: good

unuvav98
04-15-2017, 07:21 AM
I would avoid holding the property in your name personally, but not for tax reasons. As an LLC, you're going to be operating as a pass-through entity for tax purposes, so the reporting of revenue/income won't change much. The IRS isn't going to be checking property records to see if you really own the property you're reporting income on. But anyways - the big reason to hold the investment in the LLC is for liability reasons. If one of your tenants, a vendor, or pissed off neighbor sues you one day down the road and has the chance of winning the lawsuit, you do not want your personal assets to be up for grabs in the judgement. If held under the LLC, they can only go after the assets held by that LLC.

That said, when you invest in other properties you should create other LLC's for EACH property. This limits your liability exposure for each property. I'd say this is especially true for apartments, where you're going to have more liability issues than with single family rentals. That mortgage company just wants to write you a mortgage and sell it, they don't care. Go with a bank that does a good deal of commercial lending. You can ask the bankers in your area who does this -they all know which banks like what kind of loans.

Let me know if I can help anymore. I'm no expert by any means but I know a few things.
good proramm

S_Lindq
05-26-2017, 06:49 AM
Yep i agree grosa001

zdkformations
06-02-2017, 07:55 AM
I think you should buy it on your personal account not on your LLC reason being there are many people surrounding you at your home place if there is any mis happening there are chance of complain file against you and then surely you are in a great menace if you do not possess your mortgage name on your personal account.

essencepk
11-04-2019, 12:58 AM
If you own your own business and need to use funds from your business account to cover personal expenses, it's tempting to simply issue checks from the business account to cover the personal expenses, but it's not a good idea to do so.

Srijana Pandey
02-20-2020, 01:03 AM
I think you should buy it on your personal account not on your LLC reason being there are many people surrounding you at your home place if there is any mishappening there are chance of complain file against you and then surely you are in a great menace if you do not possess your mortgage name on your personal account.

I totally agree with your words. There is the proverb " Prevention is better than cure". So I also think that "#1Saiph" If you think anything related investment of buying first you have to buy your personal account. If it is good then it is better to do it from the company too. It gives the major benefits also to you.

maryjfriedman
02-27-2020, 01:18 AM
In UAE you have a business and want to open an account for Islamic loan for business (https://www.mashreqalislami.com/en/personal/finance/index.aspx) in UAE, Mashreq Bank is providing the best and business account for any business.

garoldn1
02-27-2020, 05:14 AM
It depends on where you want to sell your house and how relevant its price is. For example, I was selling my apartment in Paris via the Internet, all quickly, since there was a good discount relative to the market price. And recently, in the same way, through the guys from https://www.glamourapartments.com, I bought myself a pent house near Nantes, at a very good price, with the confidence that I can earn at least 50% on it for 2 years - this is statistics.

speeduser
12-21-2020, 01:02 PM
There must be a person that takes care of this one. They are there to make the the whole process less complicated and more interesting. - Green Water Technologies (http://www.gwtinc.net/)

alishbasaki
01-21-2021, 11:17 PM
Great business credit is an important resource for a land financial specialist. ... Great individual credit may assist you with making sure about better terms and lower financing costs. ... These records are like business Visas severally. ... need to make buys that you can't deal with the swipe of a Mastercard.

raviseo121
02-17-2021, 10:56 PM
thanks for sharing with us

HouseofFaiza
03-02-2021, 04:28 AM
I would avoid holding the property in your name personally, but not for tax reasons. As an LLC, you're going to be operating as a pass-through entity for tax purposes.