Purchasing LLC Sub To

[Ashley Rice]

Hi all! I have stumbled across a subject to deal that I'm interested in. The existing mortgage and deed is already in an LLC. In order to avoid triggering the mortgage company to call the note due, I am considering purchasing the LLC that owns the property instead of purchasing the property directly.

I have only just stumbled across this deal, but so far I found found the following: the LLC is named after the property and was formed when the property was acquired. The first two years of taxes were paid but the most recent was not. This means the LCC is technically not in good standing, but is still listed as active by the state. This is the extent of my due diligence so far.

Initial thoughts? What should I be looking out for to make sure I am protecting myself in this position? Any other creative ways to structure this deal?

TIA!