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ForumsArrowTax, Legal Issues, Contracts, Self-Directed IRAArrowTransferring Rental property to LLC recently created - Miami Dade
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Transferring Rental property to LLC recently created - Miami Dade

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user profile avatar
  • Posts 18
  • Votes 5

David Balogun
Flipper/Rehabber from Miami, FL

posted 4 months ago

Any suggestions or anyone in Miami or Florida in general that has gone thru this process?

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Check Rosette Top Subject:
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Richard Sherman
Rental Property Investor from Salem, OR

replied 4 months ago

Do you have a loan on the property and if you do is it a personal mortgage in your name?

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  • Posts 18
  • Votes 5

David Balogun
Flipper/Rehabber from Miami, FL

replied 4 months ago

Hey @Richard Sherman i do have it in my name currently with a mortgage. Its gonna be a year in October. 

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Check Rosette Top Subject:
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  • Posts 695
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Richard Sherman
Rental Property Investor from Salem, OR

replied 4 months ago

@David Balogun almost certainly they will not give you a release to move the property into the LLC...now will they ever find out, that's another question. There are a lot of discussions on this, I would search moving deed into llc and read on those a bit.

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Daniel Dietz
Rental Property Investor from Reedsburg, WI

replied 4 months ago

There has been talk on here that IF it is a Fannie loan, NOT a Freddie, VA, FHA that there are new options to transfer. Do a little seaching here and you might be surpirsed

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  • Posts 1.0K
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Lance Lvovsky
Accountant from Fort Lauderdale, FL

replied 4 months ago

@David Balogun

Yes many folks go through this. An attorney will need to get involved and run it by your CPA to confirm tax implications.

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