I'm about to open escrow on my first rental property. I'm planning to get a conventional loan on the property. I do not yet have an LLC. I'm interested in opening one for asset protection. If getting a loan to purchase the property, am I able to first purchase it under my name then open an LLC and transfer it to an LLC? I'm not sure if a lender will allow you to do that or not. Thanks for any help.
You are not supposed. You risk the due on sale clause, which is rare, but can happen.
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