Best way to go about putting your properties into your LLC?

1 Reply

I didn't expect to acquire more than one investment property, therefor it wasn't necessary to create an LLC. Now that we have 3 properties and want to continue to grow, I would like to transfer investments into our Business name. Is there any way to do this and avoid transfer tax? Tia!

@Jessica Dean

You should be able ot quit claim deed it your LLC.

Sort of off topic to your question... But you do realize you don't necessarily need to hold rentals in a LLC, right?

Also, is this an existing business with other business operations/trade? Normally, its advisable to start another LLC to separate the liabilties.

Below is a discussion thread where I really quickly cover issues with transferring properties (I must post on this daily). Make sure you consult with a qualified professional or two to make sure your corporate veil is intact, or providing the liability protection that you are seeking with the LLC. The legal entity its a "magic bullet" that will perfectly shield you from liability.

Good luck.

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