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Updated over 8 years ago,
Starting a LLC
So I just put an offer on my third home we close next month, I will live in it for a year and then turn it into another rental property...This rental thing that I have created is starting to grow, so I think I may need to get protected...
If I start an LLC, and try to put my properties in that LLC, wouldn't the banks stop it? I am thinking they may make me restructure the loan because now its a rental property, and charge me more interest or may not even agree to allow me to put into an LLC. The home started out as a primary residence but transitioned into a rental. How do I slide all three homes into an LLC without the bank stopping me, or calling my loan due? Is it even possible?
I have watched a few videos on the LLC process but I have not seen them answer this question yet. Any help would be great.
Thanks