Looking to buy first investment property under an LLC

[Brian Fernandes]

Hey Everyone,

After many months of studying, asking questions and consistently learning from the podcasts I am ready to move on my first investment.

I am partnering with my father on our first multi family investment property.

I was wondering if i open up an LLC can i have the property be owned by the LLC but myself and father are the ones responsible for the payment? And can we do this from the beginning?

Note: We are not buying the property cash, we will be putting a 25% downpayment.

Thank you,

Brian

[Chad Duval]

Make sure you notify your lender (beforehand) if you transfer the title to an LLC. It could be grounds for them to call the loan. It's very unlikely to happen, but it's possible.