Moving your investment properties to an LLC
Do most mortgage companies care if you quit claim deed your investment property to an LLC? I've heard a variety of stories about mortgage companies finding out, and calling in the loan. Can you all share your experiences? I want to purchase a multi-unit property and want to know before making this move.
Thanks -
Jason S.
Most Popular Reply
I moved a number of properties into an LLC last year, worked with my lender on the change and had no issues. Depends on your relationship with your lender. Be aware that completing your taxes will be a challenge if you make the change mid-year, due to the change in ownership during the tax year. Do t forget to make the appropriate changes on your insurance policies and licensing entities as well.