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Updated about 4 years ago on . Most recent reply

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Sam Domach
  • Investor
  • Milwaukee, WI
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Wisconsin Real Estate Attorney

Sam Domach
  • Investor
  • Milwaukee, WI
Posted
Hey BP!

I am looking for a real estate attorney that would be able to help transfer a couple properties that are currently in my personal name over to my LLC for asset protection. Any recommendations out there? 

Thanks!
Sam

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Marcus Auerbach
#2 Innovative Strategies Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
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Marcus Auerbach
#2 Innovative Strategies Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

@Sam Domach, all you need to do is form an LLC and then go to a title company of your choice to have them transferred. No attorney needed.

But I do have another question for you: do you have them financed on a residential mortgage? While you may not get caught, you are breaking your agreement with the lender if you put their collateral into an LLC.

Also, most people overestimate the protection that comes from an LLC. Watch Brandon Turner's video about LLC on YouTube, before you decide. There are many better ways to do that: run a sound business and a safe properties, have propper leases, property liabilty insurance, finally umbrella insurance.

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