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Updated about 4 years ago, 10/29/2020
Transfer Title or Purchase As LLC?
Hey all. I'm making plans for my first purchase of a plex for cash and was hoping I could get some advice. It's going to be a buy and hold rental. I would like to place the property into an LLC. I plan to do this for each property individually that I buy in the future. (Example: 123 Main St, LLC) My question is, do I need to have the LLC established prior to purchase and make the purchase in it's name or can I later transfer from my possession into the LLC after closing?
I know I should seek professional advice tailored to my personal situation and location, but any point in the right direction would be greatly appreciated.
Thank you kindly.
Matthew Meikle