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Updated about 3 years ago on . Most recent reply

User Stats

16
Posts
1
Votes
Tim Martin
  • Investor
  • Chicago, IL
1
Votes |
16
Posts

Equity line of Credit on a Paid off Investment Property

Tim Martin
  • Investor
  • Chicago, IL
Posted

So I am about to finish paying off an investment property and I am trying to figure out how to have the title recorded. I would like the option down the road in taking out an equity line of credit on the property. I was told by one lawyer to transfer all of my properties into a living trust and I currently have this property as an llc. Any advice would be appreciated. I have checked with my attorney but he is uncertain concerning when I want to get an equity line of credit on it....what might be best to hold it in. 

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