View Full Version : How to get 4 investors on a mortgage?
TommyTrip
Feb 9, 2010, 08:57 AM
We are 4 investors looking to buy a Condo in Myrtle Beach, SC. We all own solo properties, but are looking to have a Golf Condo in MB to rent out and use ourselves. Can 4 people go on a Mortgage? Can you put 4 people on a deed? Someone mentioned creating a LLC? How about if the property was purchased outright for cash? Just a bit confused on where to start.
AK lawyer
Feb 9, 2010, 09:18 AM
Certainly you can, unless the covenants, etc. somehow provide otherwise. Have an attorney look at it for you.
TommyTrip
Jun 7, 2010, 04:30 AM
We want to start to invest in property for rent and to use ourselves. Basically Condo's in gated communities. I'm unsure on how to proceed with multiple investors. Would we put 4 names on the mortgage? Or would we have to create a LLC or company?
TommyTrip
Jun 7, 2010, 04:52 AM
My friends and I, want to invest in a rental property in Florida or Myrtle Beach, there are 4 of us. How would we get a mortgage? Would it show multiple owners on the property deed?
LisaB4657
Jun 7, 2010, 06:05 AM
Creating an LLC would probably be your best bet, particularly since you plan to rent out the property when you're not using it. As AK lawyer said, you should speak to an attorney about it. It's relatively simple to set up and it's probably the best way of protecting everyone.