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Updated about 2 years ago,

User Stats

19
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9
Votes
Roy Palmer
9
Votes |
19
Posts

Switching our business LLC to an "umbrella LLC" for real estate

Roy Palmer
Posted

My girlfriend and I are hoping to close on our first househack in the coming weeks. 

We will be doing some aesthetic improvements before renting, and furnishing one of the units for midterm rentals. 

We have an established partnership LLC as personal trainers (since 2019), and we are looking to take advantage of our good standing with the credit union we bank at. We hope to use this LLC as our "umbrella LLC" for our real estate investment portfolio going forward to be able to utilize a business line of credit rehab and intital investment costs.

We would then create a new LLC for our personal training business, and a third LLC to transfer the property deed to.

We are sort of unsure of where to start with this process. Has anyone done something similar, or have any advice? 

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