Advice on LLC financing

Financing, Hard Money Lenders, Private Money
1

My friend and I are novice investors interested in buying a two or three family dwelling in New York-state for cash flow purposes.

We are considering doing it through an LLC for tax and liability reasons. However, we have no idea whether a bank with extend a mortgage to newly formed LLC. We are willing to put up about a 20% down payment.

Any thoughts?

2

the bank will want you to sign the loan as individuals.

as for taxes, mostly likely the LLC will be a disregarded tax entity unless you are doing this is a full time business.