I’m buying an investment residential property, Do I buy it in the name of my new LLC or Personal Name?
My LLC has just been established; however it has no assets and little credit history. However, I was told this is a great way to limit personal liability. What do you suggest? Also if your answer to transfer it into my LLC after I purchased the property how does that work and is it hard to do? What is the cost?
Image taken on by .
Share on Facebook
The mortgage will have to have your name on it. (unless you are putting 25% down and get a commercial loan.)
The bank MAY let you title it directly in the LLC, or you will have to do it the following day. You will have to pay the transfer cost again for your area. Make sure your title company or attorney know what you want to do, and they can take care of it for you.