LLC set up Chicago

[Brent Mattison]

Hello BP. Just a quick question. I was wondering if it would be best to set up an LLC before making a deal on a multi family property? I'm looking to set up a series LLC for buy and hold strategy. Thanks.

[Mark Ainley]

It is always better to buy the property in the LLC to avoid having to deed it over later and pay an attorney to draft up & recording fees plus your name is never connected to the property either. Not sure where you property is but in Chicago they started last year you need to get a final water reading in order to deed it over so the process takes 6-10 weeks to deed over plus your attorney migh charge you more.