Suggestion on when to put your homes on an LLC verse your name
Question,
I am a new investor, looking to lock in my first duplex in the matter of weeks. Super happy to finally get things rolling. When should you start putting your investment home under a LLC verse your name personally?
Most Popular Reply
@Todor Ialamov, Just want to make sure the OP is getting good advice. Different lenders have different requirements. Some allow lending to an llc and some do not. If you are specifically talking about conventional financing then yes, a conventional single family residence mortgage cannot be lent to an llc. Also most conventional mortgage lenders expressly do not allow conveyance of the property to another owner (of which an llc would be considered). Additionally some of the benefits of having an llc are negated by doing this.