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I just started a real estate LLC this year, and I am looking to educate myself and try to prepare for future investments.
I have spent all day talking to lenders, and it seems like none of them are doing any form of loans for businesses.
Bank of America did say they would do commercial loans, but that would really only be for purchasing an office space. A business line of credit wouldn't work since none of the lenders would let me use it for investment properties.
I was hoping to keep this all under the LLC so I can protect myself in case of bankruptcy, but it seems like no one is willing to work with an LLC.
Are there any other types of loans I could look into, or is my only option to get a personal mortgage to grow?
At this point, would I be better off dissolving the LLC and just getting a beefy insurance policy?
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- 6 months ago
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