All Forum Posts by: Eric Uhls

So, if I do this with both of my properties, I can go to the bank, claiming $X income, and nominal expenses for things like maintenance and management fees (despite the fact that I'm personally carrying the mortgage)?

Is it legal to transfer your property to an LLC you own, then have that LLC rent it to yourself?

The intent is to separate it from the payment (assume the lender will go along with it; i've talked to them, and they will), and put "rental" income on paper, so that it could be used by the LLC satisfy debt/income ratios to secure financing on another income producing property.

Can anybody cite code sections prohibiting this if so, or any relavant federal or Georgia statutes?