Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
Is there a particular way to buy your first property in an LLC?
Good morning, all!
I’m looking at purchasing my first investment property in northern Illinois, but I’m finding myself hung up on how to effectively get this property into an LLC. I was looking at using a traditional lender for a 30-year loan
From what I’ve read it requires that I find a lender that is willing to let me sell the property to the LLC whilst keeping the mortgage liability in my name, but I’m not sure how common that actually is. The only other method I’ve seen is to buy ther property outright, which isn’t an option currently
Does anyone have a particular method they used to establish this?
Thank you in advance!