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Updated over 13 years ago on . Most recent reply

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N Modi
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LLC Conversion?

N Modi
Posted

I recently completed purchase of my second property this year.
1st purchase was Single Family house. Purchased with cash and added Home Equity loan to purchase second property (condo).

Is it possible to transfer these properties to LLC without going through Home Equity loan refinancing?

If yes, what steps should I need to take? What to look for and what to avoid?

If someone has done this in past, I would appreciate their experience/feedback.
Thanks

Most Popular Reply

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Patrick Snyder
  • Real Estate Consultant
  • Lansing, MI
306
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Patrick Snyder
  • Real Estate Consultant
  • Lansing, MI
Replied

If you plan on buying more properties, think about making the offer in the name of the LLC, especially if you are paying cash. That way, the deed will never show your name and will add more protection. Some lenders will allow this and some won't, but it never hurts to ask.

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