Should I form an LLC first, or buy first?

[Ethan M.]

I understand that it's important to hold investment property within an entity such as an LLC. So if I'm just starting out, should my first step be to find a lawyer, form an LLC, then have the LLC buy the property?

Or do I buy it first as an individual and then form the LLC and then somehow transfer the property to the LLC?

How is it usually done?

Thanks,

Ethan

[Harrison Painter]

If you are paying cash, form the LLC first, it will just help create a better chain of title.

If you are using financing, you might need to buy it in your name and transfer.....

The transfer you talked about is called a "Quitclaim Deed".

Have a Profitable Day!