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Updated over 4 years ago,
Question about 30 year terms and LLC purchases
Hey all - newbie here.
I have looked locally in my market for some lenders to get pre-approval for rental property purchases. However, I am running into an issue that only 15 or 20 year terms are available. At the advice of my attorney, I would like to purchase the rental properties through an LLC. One lender told me that if I purchased the property in my name that I could get a 30-year term. Is this common? How does one go about avoiding personal liability if you cannot purchase with your LLC.
Is it possible to initially purchase the property in your name and then transfer it to your LLC?
Appreciate any input and education. Thanks!