Investor · Sunnyvale, CA · Member since 2015 · 4 posts · 0 votes
Hi All,
I'm working on creating a LLC to place my current rental property in. I can't seem to find a clear answer if any business licenses are required, does anyone have any resources that could help answer? A couple pieces of info:
Property and LLC are located in Oregon
Rental/Tenant Leases are managed through a property management company (separate LLC)
The LLC would only be used to pay mortgage and receive monthly income from property management
Specialist · Cleveland, OH · Member since 2018 · 270 posts · 187 votes
7y
Check with your bank if they allow business LLCs on the title or deed. You might have to pay it out first or sell it to your LLC and obtain a different mortgage.