I have flipped several properties over the years under my own personal name and recently finally set up my own LLC. I am now about ready to move forward with purchasing my first property under my LLC and i figured i would ask for some assistance from you seasoned pro’s.
I plan on obtaining financing from by broker for 80% so that i can avoid pmi. I also have plenty of cash available to cover renovation costs or to put more down if neccessary. Even if i go over my alloted renovation budget i have a $50k HELOC available w/ a $0 balance so i am good there.
Anyway heres my question… Am i going to have an issue having a lender finance a property for me as an investment property under the LLC if the principles of that LLC (my wife and myself) are willing to give our PG’s? Will they record the deed at closing under said LLC?
If not how can i get around this to transfer it into the corps name for tax purposes?