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Updated 12 months ago,
LLC and spouse.
Hi everyone, I am about to create my first (Florida) LLC. My first investment property will be a SFR and loan will be on my name only (income reason). I was told by one lender that the property has to close on my name and transfer to LLC 'after' the closing. In order for the loan not to be called out the LLC has to have me as majority interest. What does that mean? My spouse will be minority interest? Not sure how my spouse will look at it. How do I go about it? Appreciate any advice I can get. Thanks.