How to buy a rental home using LLC? - Posted by Bob

Posted by Garrett Sutton on March 09, 2004 at 23:17:10:

It can be done, and is done all the time. See if your lender will allow you to take title in the name of the LLC. They have your personal guarantee so they’re protected. If the lender is a dinosaur take title in your name and then use a grant deed to transfer from your name to the name of the LLC. Don’t let them tell you that is a sale, thus triggering a due on sale clause. It is a transfer, not a sale. Good luck, Garrett

How to buy a rental home using LLC? - Posted by Bob

Posted by Bob on March 08, 2004 at 20:07:59:

I just opened my LLC and I am not sure how to buy homes using my personal credit and put the property under my LLC. Can this be done? Or do I buy on my credit then latter transfer to my LLC? HELP!!!