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Updated over 6 years ago,
Individual Property Ownership and Rented out by LLC
Hi and thanks in advance for what I know is likely a very common question. I'm just starting out and doing some planning. My day job is running an M&A program for a mid size software company so while I know my way around financials and legal matters, I'm just getting started with rental properties.
1) As easy as it would be to pierce the veil on the sole member LLC, I'm still inclined to have it as I just like the comfort, separation and plan for growth.
2) I understand getting a any bank to loan a new LLC for a property will be difficult and I'll likely have to put the mortgage and title on the rental property under my name personally.
3) Can I have the mortgage and property under my name personally and still have the lease and all other business functions under the LLC name?
If I grow and start showing stability under the LLC, I plan to continue to leverage that LLC moving forward.
Thanks again.