Hi everyone! Possibly a silly question but I am currently under contract for my first BRRRR and first REI period. I would like to hold the property in an LLC. Do I need to create the LLC prior to closing or just move it to an LLC before I refinance? Thanks in advance!

@Michael Conte hmm there doesn't appear to be an edit feature but I should add that the property is being bought with cash from a private lender with no "due on sale" clauses

@Michael Conte if you are under contract on it, then you probably put your personal name in the Buyer area. Therefore, it is too late to purchase it in your LLC. however, you can always warranty deed it over to your newly formed LLC after you've closed on it. Then, make sure your Lender (and yourself) are OK with commercial financing terms and pricing once your refinance.

Good luck!

Yeah like @Dalyn Hazell said, just close in your name and eventually you can quit claim it into your newly formed LLC.