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Updated over 9 years ago on . Most recent reply

Tony Velez's profile image
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Tony Velez
  • Hvac
  • from North Haven, Connecticut
  • Member since Aug 25, 2015
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Tony Velez's profile image
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Tony Velez
  • Hvac
  • from North Haven, Connecticut
  • Member since Aug 25, 2015
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Tony Velez
  • Hvac
  • North Haven, CT
79
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298
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Buying & Selling Real Estate

LLC before or after first property

Tony Velez
  • Hvac
  • North Haven, CT
Posted

Hi,

We out an offer on a triplex. Should we buy it under an LLC or buy it under my name? Then transfer to LLC?

Thanks

Tony 

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Luca Gobbini
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  • from Nixa, Missouri
  • Member since Aug 10, 2014
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Luca Gobbini
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Luca Gobbini
  • Investor
  • Nixa, MO
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Luca Gobbini
  • Investor
  • Nixa, MO
Replied

I transfer the properties to the LLC after the purchase. I usually discuss it with the bank beforehand and my bank has allowed me to do it. At closing I personally assume the mortgage but the ownership of the property moves to my LLC with a quit deed.

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