Trust/LLC clarification needed

1 Reply

Hello BP!

I'm trying to process and figure out the following scenario:

Am I able to purchase an investment property under a Trust OR do you need to purchase it in my name first than transfer title to the Trust thereafter? Will this cause issues with loan process and or title/company insurance.


To my understanding the first investment property you buy would be under my name than I'd create/open an LLC and transfer title. All additional investments would be go through the LLC.

Please advise/clarify

Thanks

Armand


@Armand P. most banks will NOT let you place it into your LLC directly, but you can ask. If you are paying cash for the home then you can place it into a Trust or LLC. Both are different instruments. I use a Land Trust for privacy reasons and the owner (Beneficiary) of the land trust is my LLC.

Check with your LLC attorney as I would only place one property in each LLC, but there are ways around that.

Good Investing...