Updated almost 7 years ago on . Most recent reply
Lenders who do LLC vesting
Hi everyone,
New investor in Cleveland and happy to be a part of this forum! Wanted to reach out and see if anyone has a recommendation for a lender that will do an LLC vesting on a SFH investment property. If so, I'd love to hear from you. Feel free to reach out and connect. Thanks!
Mike
Most Popular Reply
Hi Michael,
I have read blogs where real estate attorneys suggest putting the loans in your personal name (to take advantage of the lower interest rate), then moving them into a land trust which is then purchased by your LLC. This is apparently totally legitimate/legal. It also won't trigger the call on transfer clause from the bank because moving into a land trust doesn't require a filing with the county.
The only drawback is that you will have to pay an attorney of course but it may be worth it. Try searching BP blogs under land trusts.
All the best