All Forum Posts by: Matt Westfallen
Matt Westfallen has started 2 posts and replied 4 times.
Post: Buying then transferring deed
- Rental Property Investor
- LaSalle County, IL
- Posts 4
- Votes 0
thank you so much!
Post: Buying then transferring deed
- Rental Property Investor
- LaSalle County, IL
- Posts 4
- Votes 0
Hello BP, I hope everyone is staying healthy and safe! I have an LLC in Illinois, and I own a number of properties in the collar counties of Chicago, with mortgages through a local bank out there. The deed and the mortgage are in the LLC's name for these properties, while the members' names are on the note. I'd like to buy a property in Chicago, and the new mortgage company is suggesting I buy the property in my own name and then deed it to the LLC. So my question is, what are the tax implications, and benefits, to the members of the LLC if I purchase a property in my name and then deed it to the LLC?
Post: Newish BP member in the Indianapolis / Carmel, IN Area
- Rental Property Investor
- LaSalle County, IL
- Posts 4
- Votes 0
Welcome aboard, from Chicago! I am not on BP nearly enough. I will close on my 3rd property on valentine's day. I'd love to hear about your successes!
Post: New to BP, investor in LaSalle Co, IL
- Rental Property Investor
- LaSalle County, IL
- Posts 4
- Votes 0
Hello! I have been reading BP posts for a while now and figured I would make myself "official." I have 2 sfr in LaSalle County Illinois and I am interested in connecting with others who invest in buy and hold investments.