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Tyler Carpenter
  • Real Estate Investor
  • Aurora, IL
14
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125
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Forming LLC?

Tyler Carpenter
  • Real Estate Investor
  • Aurora, IL
Posted Nov 5 2008, 09:04

Would/ Can you form an LLC before you buy a property. I was told that most banks wont loan to an LLC real estate if you dont have a lot of business history with the banks. What my mentor said was once I bought a property in my name for my first property was to get a "deed of transfer"? to move the property under the LLC. Also once in the LLC, what would the advantages of switching it right away to the LLC? Security? Credit Score? Im a little hazey in this area of the real estate. BTW, I plan to buy my first property in Chicago, IL in the next 6-8 months; so this is my time frame. Am I too early to think about LLC?

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