How LLC and mortgage works for first investment property

[Daniel Becker]

Hi Everyone,

I am about to close on my first investment property (singe family home) that I plan to hold and rent out.  Very excited.

I have one partner going in on this deal with me and we are planning to set up an LLC to hold the property.

As I understand it, we can move the title of the property over to the LLC and run our rental business through the new LLC -- but what about the mortgage? We are getting the mortgage as an individual, and not through the LLC, to start with. Are we able to move the mortgage over to the LLC at a later date so it's not in one of our individual names?

Thanks for the help and advice.

-Dan