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Updated over 6 years ago,
Question about creating a LLC
How are you all. My name is Johnny. I just wrote my first post yesterday, and now I am back with more questions. So far people out there is being very helpful. I think is incredible that some people with so much experience in RE is still willing to put out some of their busy time, and guide newbies as I. Thank you so much for that.
Here is my question. I am in the process of getting my first multifamily. I am targeting Jersey City, Union City and West New York. Since I want to start buying and hold, for the long term, Do I have to form an LLC before I buy anything or is better after I bought it? I said this, because I think I read in some place that when you are new or is your first property it is very hard to get a mortgage on an LLC, so it is easier to buy the property under my name, and after that make the transfer to an LLC. Is that correct?
What should I do first in your opinion?
Thank you all.