Transferring Mortgages Into LLC.

[John Litzenberger]

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

[Soh Tanaka]

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.