Strategy forming an LLC

[Mallika Akkala]

Hi 

Need expert advise. A partner and I are in the process of buying a property. I live in New Jersey, my partner in Denver and the property is in Denver too. Since this our first property together, banks are not willing to provide financing unless the property is deeded to the person vs LLC.. The plan is for him to purchase the property and Quit Claim it over to the LLC. I understand only the rights and ownership transfer, and the loan stays in his name.

Can someone please let me know if that sounds like a plan or if there are any risks involved.

Can you please suggest a way to do this.