I have a small portfolio of properties that are held through an LLC. I am looking for a lender willing to provide 30 year mortgages on the properties with the deed being in the LLC's name. The members of the LLC will be willing to guarantee the loans.
The portfolio breaks down a follows:
1 - 6 Unit Building Binghamton NY
2 - 1 bedroom condos; one in Somerset Country one in Monmouth County
The mortgages would total 200k. The properties are worth well north of 500k.
If you know of lenders who work with small investors like myself, please let me know.
Thanks in advance!
2006-11-13 05:15:02 · 1 answers · asked by Rick K 2 in Business & Finance ➔ Renting & Real Estate
Try community banks. Any other type of financial institution would be willing to work with you esp. with the individual guarantees. Sounds like you should have no problem so long as the cash flow from rental income is sound.
2006-11-13 07:14:33 · answer #1 · answered by boston857 5 · 0⤊ 0⤋