Buying my first property, Transferring Deed, and LLCs

[Andrew Foster]

Hey guys,

So I have an offer accepted, I'm looking to close in 30 days on a multi-family in the Cleveland area. I'm curious on how to go about paying the down payment so that I will not potentially trigger a "due on sale clause", when I transfer the Deed to my LLC. I still plan on personally guaranteeing the loan to secure it. Should I have the funds come out of my LLCs account for payment or is it fine paying the down payment out of my personal account then once the property is paid for, transfer the Deed to the LLC. The LLC would collect rental payments in a business account and make the monthly payments on the mortgage operating like it should. (but mortgage would be under my name still). I've been told to "Wait a few months before transferring the Deed". In advance I'm sure people will ask why I would have it under an LLC for my first property, of course liability protection but the main reason is Taxes, I'm not trying to have the added income from the property be on my personal tax returns. I appreciate any and all input!