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Updated about 6 years ago,

User Stats

24
Posts
10
Votes
David Hagen
  • Rockford, IL
10
Votes |
24
Posts

Is there a particular way to buy your first property in an LLC?

David Hagen
  • Rockford, IL
Posted
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!

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