LOI and Entities

[Brian Keeler]

Hello BP people!  

I am looking to put in an LOI on a property I have been looking at I just wanted to know if I should get my LLC first?

Thanks!

[Jeff Greenberg]

You can put the loi and contract under your name and close under the LLC. The LLC will assume the contract before closing. With a small MF you may want to own several in the same LLC. As you get larger you should one in each LLC. This will help protect each property from the liabilities of the other as well as you.