Transfer a Property from LLC to my Name to be able to get a HELOC

1 Reply

I have a scenario and I'm trying to figure out what is best.

If you have a property under a LLC with no mortgage and liens could you get a HELOC loan?

Or should we transfer that property under to a name so we can get a HELOC loan?

I heard its hard to get a HELOC loan when the property is under a LLC.

I also heard the interest rates is lower if its under someones name.

If we have to switch the property to a name how can I do so?

Thank you kindly.

@Carlos Rodrigues I believe you are able to get a HELOC with a property in an LLC, but i believe you have to get the HELOC then put the property into the LLC. Also, if you decide to put the property in your name and get the HELOC I would make sure u have an umbrealla policy big enough to cover your properties or anything that you own. From what i hear it sounds like you have multiple properties. If your properties are under an LLC you can always fold the corp. HOWEVER, With it being under your name u can open yourself up. Just make sure your protected.