@Emily Bode that is a good question and im glad you asked that. I did a little research and mostly what i came up with was no. The advice i would give you is to consult a lawyer. Being a servicemember myself i wouldnt do it because the VA is tricky and might have some type of "DUE ON SALE" clause just like the bank. Not insulting you but if you dont know what the due on sale is, it means the moment you transfer that property you have to pay in full. Would this happen as i have seen and researched it hasnt ever happened but dealing with the VA anything is possible.
Rental Property Investor · Member since 2018 · 483 posts · 956 votes
7y
You only have 2 properties, the bigger question is why do you feel you need an LLC? Is it because every 3rd post on BP is I'm getting into real estate how do I set up a LLC? Just get a umbrella policy and rent your house. Not that you can't get sued but I have been doing this for 36 years and have never been sued. Will I get sued before I die, well maybe but not likely because my properties are keep in immaculate shape and my property manager is better at screening tenants than most. The best thing about experience is if I lost it all tomorrow by next year I'll be a millionaire again.