Does a Quit Claiming a Property into your LLC Question

1 Reply

Maybe. What are you trying to achieve? @Mitch Miller I have an LLC for real estate activities since it prevents the co-mingling of funds (business from personal.) It has a bank account, signs contracts, buys liability insurance and manages the properties in my portfolio. My first few loans to purchase investment properties were in my name. The lender knew they were investment properties and did not question that the name of the party on the check was our LLC. We dumped money into the LLC (capital contributions) and wrote the check for the down payment.

In your case, do you intend to quit claim ownership of a property that you already own? This is not an exchange of cash, puts nothing into you bank account. Capital is what one needs to run the business everyday. The property is an asset, which has a value when it is bought or sold. A lender may see the value and secure a loan to this value, which puts working capital into your business. I hope that you can use the asset to put its value to work for you.

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