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Updated over 1 year ago on . Most recent reply

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13
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10
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Theodor Kim
  • New to Real Estate
  • Orlando, FL
10
Votes |
13
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Personal Ownership to LLC

Theodor Kim
  • New to Real Estate
  • Orlando, FL
Posted

Hey all! I own a house hack/roommate/pad split home in Central Florida that is under my name but I structured the home like I would a multifamily and am able to get actual cashflow after expenses. I have been meaning to put it under an LLC but I also value anonymity so I've been holding off until I figure a way. Since I made the mistake of not buying it under my LLC (I'm not sure if my mortgage company even allowed it since it was a primary home loan), my name is already public record. I figure if I transfer it to my current LLC, then a disgruntled tenant could have a paper trail from my name to my main LLC.
Is there a way I can put the cashflow in my LLC and separate personal/business funds to prevent co-mingling? Maybe lease to my LLC or something like that? Or perhaps the only way is to suck it up and create a new lone LLC just for this home for asset protection and isn't connected to my other LLCs?

Thanks!

Most Popular Reply

User Stats

306
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122
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John Karg
  • Lender
  • West Palm Beach, FL
122
Votes |
306
Posts
John Karg
  • Lender
  • West Palm Beach, FL
Replied

Hi Theodor,

Hiding your ownership of a property is an extremely difficult thing to do, and likely would require a trust instead of an LLC, as the LLC ownership is going to be public record as well. Ultimately if someone really wants to find the owner of a property, they will be able to do so.

John

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