Close under personal name or under LLC?

[Kevin Kelliher]

Hi Everyone,

I already have 1 rental within an LLC, and am scheduled to close on a personal single family home with my wife in ~ 2 months. However, during the 1 year build process we have decided to move however we plan to keep the home as an investment. 

I am receiving conflicting information in regards to if we close personally, and then swap the home into the LLC shortly after closing. Conflicting info being whether or not this would affect my wife and I in regards to purchasing another personal home.

Does converting the home into the LLC absolve us from any liability and/or from the Mortgage note or are we still on the hook?

Thanks,