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Updated over 10 years ago on . Most recent reply
LLC funding another LLC
My uncle who is my private lender has been allowing me to purchase single family houses under his LLC.
I started my own LLC and I am looking to start purchasing the houses under it.
What would be the best way for him to stay in first position, hold the deed, and be documented as the lender on the house but the house be in my LLC?
Thanks
Most Popular Reply
Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Of course he is "allowing" you to purchase houses under his LLC. Hopefully he is on the up and up. Are you a member of that LLC? Just a note to be careful, Ross. If you are not a member you have no ownership.