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    TommyTrip's Avatar
    TommyTrip Posts: 22, Reputation: 1
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    #1

    Feb 9, 2010, 08:57 AM
    How to get 4 investors on a mortgage?
    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's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    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's Avatar
    TommyTrip Posts: 22, Reputation: 1
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    #3

    Jun 7, 2010, 04:30 AM
    Looking to buy a condo with 3 Friends/Partners, how is this legally done?
    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's Avatar
    TommyTrip Posts: 22, Reputation: 1
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    #4

    Jun 7, 2010, 04:52 AM
    How would 4 people go about investing in a single property?
    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's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #5

    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.
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