I was talking with a mortgage broker (finding one that will do 100% NOC is like pulling teeth 
). She mentioned to me that I will run into trouble when it comes to obtaining more than 5-10 properties. When I mentioned my business plan goal is 10 per year she mentioned that LLCs are the way to go but couldn’t really offer any guidance. My guess is that she heard this info from other investors.
Here is where I am requesting clarification from people who know more than me
If I open a brand new LLC my EIN# will be too new and the credit history will be poor. How would I even qualify for a 100% loan this way?
On the flipside; I would assume I can request the loan in the name of the LLC with my personal credit as the co-signer. How will this get around the 10 property limit when co-signing will still place the tradeline on my report?
I just can’t make sense of this.
forget about 100% noc commerical loan. you need to find a real mortgage broker. I have one that works only with investors and does these type deals all the time. after going through 5 mortgage brokers in 4 years, this one is the only one that becks up what is promised (and in a legal and ethical way).
when looking for a mortgage broker, make sure the work exclusively with investors or have lots of experience (at least 10 years). i can recommend one to you if interested
good luck,
lance
I would LOVE to get in touch with your recommended broker. Can you shoot me the details via PM?
Another method is to transfer your title into a Illinios land trust.
The LLC is fine in that you have that corporate protection and the land trust when structured properly will circument that dealer status of a ceiling when investing in R/E properties.
This is benefit number 16. Avoiding “real property dealer status” when acquiring numerous properties. If you like to invest in real estate this is a great benefit.
The basic premise for this is when you utilize the advantages of the land trust regarding investment property since you control the property w/o owning it and once the property is setup correctly you will provide or your designated trustee a debt to income letter to your new lender to show him the property is being paid off by a beneficiary in the trust thus in most cases the lender will give you a 100% debt to income instead of the customary 75% so you will more easily qualify for the next loan.
There are 40 benefits to using these trusts I just hit on one of them and if you forward me your email I will look to send that to you. My email is in my signature file in my header.