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Updated over 14 years ago on . Most recent reply

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Tim Klotz
  • Real Estate Investor
  • Canton, OH
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Opinions please

Tim Klotz
  • Real Estate Investor
  • Canton, OH
Posted

I am am a relativelt new investor. I have 3 properties, I recently refinanced a property into my LLC. I currently have the other two titled in my name personally. My intentions are to eventually move my other properties to the LLC, however they are financed and I have not yet decided how to go about getting it done, my question is, right now I have my personal checking account, my rental checking acct, and now my LLC checking acct, I would like to dump the rental checking acct and just run everything through the LLC checking acct. what do you all think?

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Vikram C.#5 Off Topic Contributor
  • Real Estate Investor
  • Phoenix, AZ
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Vikram C.#5 Off Topic Contributor
  • Real Estate Investor
  • Phoenix, AZ
Replied

If you pay for your non-LLC properties out of your LLC, you would be vulnerable in a future lawsuit. Comingling funds like this could result in the limited liability veil being pierced.

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