Buying privately and putting it into an LLC

[Nav Singh]

First post (yay!).

Hi BP family,

I am a newbie investor and hope to find success like many of you on this forum. I already bought my first property (all-cash) about 2 weeks ago and have lined up my second one. The thing is that my first property is under an LLC I created before buying it.

The next one, I don’t have money to go all cash, so I need to take a loan. I’ve been pre-approved but it’s not under the business's name (it’s under mine). I don’t think the business will be able to get one since it’s too new (even with a free flowing property).

The questions are:

1. Have you bought properties under your name and transferred it into an LLC later?

2. How soon can you transfer it?

3. Does the loan company give you trouble for doing such a thing too early?

Looking forward to hearing all the responses. Any other advice will be much appreciated. Thanks,

Nav