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Updated over 2 years ago,
Purchasing properties with LLC?
I recently formalized a company with an investor friend. We formed a two-person LLC and have equal authority.
We are purchasing flip and rental properties under the name of the LLC. I know this is a very basic question, but how do we sign a contract to purchase a property? Is the contract in the name of the LLC and then I (or my partner) sign one of our names? The whole reason we formed the LLC was to avoid buying property personally as we've done in the past. We recently found a property to buy and the seller insists we both sign the offer contract, which may be a deal-breaker.
Thanks for any wisdom.