All Forum Posts by: Chris Shuptar

I've tried searching for an answer to this, but couldn't find anything. I just finalized all of my paperwork and whatnot for my LLC. Long story short, my first rental property is now the first series under my LLC. Here is my question; Now that my first property has been quit claimed, who technically has their name on the mortgage? Is it still my name? ...or is it now owned by the LLC. I'm on the hunt for a few more properties, but if my current rental isn't in my name... then I could pick up a little extra buying power, right? Forgive my lack of knowledge. I've had this rental for 4 years now and it has always cash flowed like a champ, but I've always done things somewhat informally (probably not the smartest plan). I was recently convince by my dad that I should start a series LLC and give real estate investing a real shot.

Hey BP, my name is Chris. I've been a long time listener to the podcasts... but just now joining the forum. A little about me: I've been in Naperville, IL for about 21 years (I'm 27 years old now). I currently own and rent out a 3-story townhouse in the adjacent city (Aurora... where Wayne's World took place). It's my only rental right now because I'm quite a newbie when it comes to the real estate game. Anyway, I've gotten my ducks all lined up to purchase another rental property in the next couple months. My intentions are to have 3-4 more rental properties by the end of 2016. I know Naperville any the surrounding area very well and I've been fortunate enough to have a huge network of people that are willing to teach me about the inner workings of real estate and the like. I co-own a metal fabrication company based here in Naperville... but my ultimate goal is to make that autonomous and pack my bags and move out to Wyoming. Hopefully, with a "buy and hold" strategy, I can achieve that and have some passive income to fund my hobby of racing my Lotus at various racetracks around the country. I look forward to soaking up the vast amount knowledge here on the forum.