Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on . Most recent reply

User Stats

98
Posts
31
Votes
Bo A Vanecko
  • broomfield, CO
31
Votes |
98
Posts

Early Partnership, Property purchase under name then into LLC?

Bo A Vanecko
  • broomfield, CO
Posted

Quick question on an early partnership situation. I am looking to make a move with my partner on a 4plex and 2plex in the next few weeks. Based on this being the start of the "business" and we are still working out the LLC arrangement etc, I will likely purchase in my name and then move these into the partnership. Curious how others approached purchases in a partnership early on when LLC / business cant make the purchase and individuals are on the loan docs etc.

Do i purchase on my name but add partner to title docs?

Do i keep loan and title under my name but then roll into the LLC? (so partners name not associated with loan/title but LLC ultimately has property)

Is there anything i should be watching out for to make sure I am not solely liable for anything with the property moving forward and legal issues would fall on the LLC?

Thanks in advance and if i need to elaborate a bit more feel free to let me know.  Trying to juggle a ton of items at once heading into my first partnership and first purchase :)

John

Loading replies...