Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago on . Most recent reply
![Brock Sheets's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2070186/1694739887-avatar-brocks37.jpg?twic=v1/output=image/cover=128x128&v=2)
Help with LLC registration and/or changing finance strategy
I am in the early stages of buying my first rental property. I was recently approved by a lender and when I asked the lender about lending to the LLC, his reply was to just buy it in my name and transfer it to the LLC after closing.
When I spoke with an attorney in PA, he said that doesn't make sense for me because of the 2% transfer tax I would get hit with.
Does it make more sense to 1. try and register the LLC to a state that doesn't have that transfer tax? 2. Look for lenders who will lend to LLCs? or 3. abandoned the LLC and just get an umbrella policy for coverage?
I appreciate all and any feedback! Thanks!
Brock