Transferring properties to an LLC

[Jacob James]

Hello everyone,

Not too long ago I posted that I was going to structure a partnership with my friend and that we are going to be investing in real estate together under our newly formed multi-member LLC. I knew from the jump that getting a loan through a new LLC is pretty much impossible, but just recently learned that if I were to get a property under my name I would not be able to transfer it to an LLC that is a 50/50 split owned by my partner and I. My question is, how should we go about getting these properties and then transferring them too our LLC? Is it as simple as both of us applying for the mortgages together on the homes and then transfer? I have read that some lenders do not allow it or would make us have to pay the remainder of the loan or find new lending. Any advice would be appreciated.