psebastian
Junior Member
What is the name of your state? PA
I am purchasing an investment property and I would like to have it under the LLC name. It seems next to impossible to get a real estate loan under the LLC. One Bank said that I could Deed it to the LLC but I would have to personally sign for the loan. Wouldn't that make putting the loan in the LLC useless and still be personally sued? For example, if some fell on the property. They would be able to still sue the LLC and Myself?
How do I get the coverage under the LLC?
Or am I going to have to get the loan personally and just take out a ridiculous amount of liability insurance?
Thanks
I am purchasing an investment property and I would like to have it under the LLC name. It seems next to impossible to get a real estate loan under the LLC. One Bank said that I could Deed it to the LLC but I would have to personally sign for the loan. Wouldn't that make putting the loan in the LLC useless and still be personally sued? For example, if some fell on the property. They would be able to still sue the LLC and Myself?
How do I get the coverage under the LLC?
Or am I going to have to get the loan personally and just take out a ridiculous amount of liability insurance?
Thanks