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Updated over 3 years ago on . Most recent reply

Transferring Mortgages Into LLC.
Hi All,
Happy Friday in the U.S.
I have a question I am hoping some people could provide insight into.
I have a few rental properties, have bought/sold, and managed properties for a few years now. I just recently started an LLC. however, and am trying to figure out ways to place my properties under my LLC. instead of my personal name.
I have queried some of the mortgage companies and they wont allow a transfer of the mortgages to the LLC. Obviously buying something out in cash would be simple enough to put a property under the LLC.'s name, but are there any tricks to get the current few mortgage I have under the LLC.? The LLC. has had a small amount of cash income over this previous year.
Any advice would be great. Thanks all.
- Jon
Most Popular Reply

Many people just deed over the personal rental properties to LLC all the time. I never heard of anyone getting into a trouble with it. Not necessarily recommending but just stating what I know.