Moving a Property to an LLC... equity

[Chris Tedeschi]

Hey everyone,

I have one multi-fam rental that I am planning to move out of my name and over to an LLC. Does anyone have some pros and cons to doing this? I know some of the pros, which is why I'm doing it, but I'm thinking that I will now no longer have any ability to utilize any equity in that home after this, is that correct?

Any help here would be great!

Thanks in advance,
Chris

[Eliott Elias]

You won't be able to get loans in your name anymore, will have to be commercial or DSCR. If there is debt on it right now in your personal name it may cause an issue.