Structuring ownership of property in LLC. 3 posts by 3 users

Posted: 07/01/2008 at 08:35AM

I am starting by one rental property and I want it to be under an llc for my own assets protection.

- Should I buy the property under my name then I setup an LLC and somehow transfer the ownership? In that case the loan is still under my name, am I considered protected? or there's a way to also transfer the loan under the LLC's name?

- Or I setup the LLC first then buy the property under it ? and in that case how can the llc qualify for the mortgage since it doesn't have any income on it's own initially?

What is the best way to start this? For first investment, I want to make sure my personal assets are protected.

Posted: 07/01/2008 at 11:21AM

I've modified the topic to better reflect the questions being asked.