Buying a Property with an LLC?

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[@etiosajn9051]

Eye opening knowledge

[@sethsamson666]

Rookie here- where might i be able to buy umbrella insurance for my rental? Thanks

[@craigshak]

If you put in LLC after buying in your name and have a mortgage then lender can technically force you to pay back the loan as ownership changed even though you own the LLC . The way bank would find out is through the local property tax office . So better thing to do is to move to an LLC and then move LLC into living trust and file the trust docs ownership with taxing authority and lender cannot do anything as moving to trust is allowed . No one will know about the LLC underneath

[@JasonJFlippingLife]

You can. Just buy it using a dscr.

[@HealingMusiz]

If we have 1 property in llc and one in personal name and llc tenant sue, are we still protected?

[@ismatullorahimov3445]

How about pitching it with friends and buying a more expensive property together in an LLC?

[@etiosajn9051]

What's the name of the background song?

[@joshrweb]

An LLC won't automatically offer limited liability. It depends on the state and the setup. If it's a single member LLC in some states that does nothing for you.

[@detsoob]

If you put it in an LLC the banks won't touch it. Meaning no financing or cash out, refi ect.

[@FinancialfitDiva]

Get a $1M to $2M umbrella insurance.....it's cheap

[@youdqtube]

I'm quite sure using a Quit Claim Deed is NOT best practice. I'm notban attorney but neither is Brandon. My attorneys have me use a Title company to do the transfer. Get an attorney to do this correctly.