Hello All! I am buying a multifamily in Brooklyn and wanted to know how much more home owners insurance costs if I purchase the property under an LLC as opposed to under my own name. I've already received some quotes from insurance companies if I purchase under my own name, but am struggling a bit to get that info if I were to purchase under an LLC. Does anyone know? I will find out on Monday for sure, but really wanted to get an answer ASAP. Thank you in advance!
If you're using bank money you're most likely going to have to to have to have to take title (be on the mortgage) in your own name anyway. Banks won't usually lend to an LLC under most circumstances.