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Updated about 6 years ago,

Greg Schuricht's profile image
Greg Schuricht's profile image
Greg Schuricht
  • Accountant
  • from Minneapolis, MN
  • Member since Oct 8, 2018
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81
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21
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Greg Schuricht's profile image
Greg Schuricht's profile image
Greg Schuricht
  • Accountant
  • from Minneapolis, MN
  • Member since Oct 8, 2018
Connect
Greg Schuricht
  • Accountant
  • Minneapolis, MN
21
Votes |
81
Posts
Starting Out

Refinance before contributing to LLC?

Greg Schuricht
  • Accountant
  • Minneapolis, MN
Posted

I own one property free and clear. Thinking of refinancing and using the cash to purchase other properties. Want to contribute the property to an LLC after taking the cash out. Once the property is in an LLC, I will need to start paying down the refinancing from the LLCs bank account, right? Wouldn't this be a red flag to my lenders to investigate a due on sale clause?

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