Move property to LLC?

[Brian Gray]

Wife and I turned our first home into a rental.  It's still in our name.  Going great for 4+ years now.  No issues.  But now we are considering increasing our real estate portfolio.

Think that we'll go down the LLC route. Having said that - do you have any recommendations around moving that first home over to our LLC? Should we? Advantages/Disadvantages? Difficult to move it?

Thanks!  Love reading the forums here.  Learning a TON in a short period of time!

[Jesse Waters]

Oh, as far as moving property to a LLC, it was fairly simple. It cost us $220 total to move the deed's on our last two properties to LLC. Our insurance company listed the LLC as an additional insured. We didn't really worry about the due on sale since a) we told the bank we were going to do this when we got the loan and b) we are still paying the mortgage & personally liable for the mortgage and c) we are going to roll all our properties under a blanket loan and get it all under a new loan to the LLC.