Posted by Garrett Sutton on September 17, 2004 at 17:43:01:
Lyn: Bill can get it done. But in the event you happen to take title in your individual name and want to later transfer it to an LLC you will simply record a grant deed transferring title (not selling it) from you as an individual to your LLC. Good luck, Garrett
Buying property under a LLC? - Posted by William Evans
Posted by William Evans on July 13, 2004 at 09:47:42:
My questions pertains to buying property via LLC corporation. I’m in contract to buy 2 sfr investment properties. However; I have a partner & our goal is to buy the homes and hold them under the LLC umbrella. What would we need to do to place those properties under the LLC? We are novice investors just beginning our investing journey.
Thank you,
William Evans
Re: Buying property under a LLC? - Posted by anon
Posted by anon on July 24, 2004 at 10:24:10:
Don’t do anything until you verify with your insurance agent and confirm that your LLC will be able to be the named insured AND will be able to get a dwelling policy AND liability coverage.
Re: Buying property under a LLC? - Posted by Garrett Sutton
Posted by Garrett Sutton on July 13, 2004 at 11:16:55:
Set up your LLC, have a certified copy of the articles of organization and direct your title company to put title to the property in the name of the LLC. If you have a problem with a lender who won’t let you take title in the name of the LLC let me know. There is a new company that specializes in these type of loans. Garrett
Re: Buying property under a LLC? - Posted by Rob Roche
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Re: Buying property under a LLC? - Posted by Lynn Voorhees
Posted by Lynn Voorhees on September 11, 2004 at 07:45:56:
Garrett,
I am about to buy property and have established my LLC… will you post the information or email me about the company that specializes in mentioned loans.
If we do purchase our property (not titled under LLC because of lender)is there a way to put the property under the LLC after…
Thanks,
Lynn
Re: Buying property under a LLC? - Posted by Garrett Sutton
Posted by Garrett Sutton on September 12, 2004 at 13:37:28:
Yes, the person to call is Bill Cavalier at 469 361 2460. His company, the LLC Loan Network, specializes in loans to LLCs that own, or will own, real estate. If you end up buying the property in your own name you can later put it into the LLC. But, of course, it is easier if you work with a lender that will allow you to take title in the name of the LLC in the first place. Good luck, Garrett
Re: Buying property under a LLC? - Posted by Lynn
Posted by Lynn on September 16, 2004 at 09:00:43:
Garrett, Thank you! If you would also explain more about how to put the property into the LLC after purchase in my name just in case things don’t go in favor of title under LLC.
Lynn