Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

58
Posts
40
Votes
Jonathan Edmund
  • North Myrtle Beach, SC
40
Votes |
58
Posts

Financing and Purchasing Under New LLCs

Jonathan Edmund
  • North Myrtle Beach, SC
Posted

So I operate my real estate business as a Realtor in Myrtle Beach under an S corp for tax purposes and pay myself a salary. I also recently bought a rental under my S Corp. I paid cash so I'm going to move it into it's own LLC. When you put a property into an LLC, can you still have the rental checks go to the old s corp in my situation and still own the unit under a different LLC. I'm only doing it for liability purposes. Moving it is the easy part on that one because no mortgage.

Now I'm looking to buy more rentals but not pay cash so I can leverage my money. I don't want to keep putting all my properties in the same corporation that I'm running my business out of. I'd like to have an LLC for every single unit I own. How would one go about buying a property and moving it into an LLC after the fact. Most banks won't let me finance a property under a new LLC with no income history so I'm trying to figure out the best way to do this to protect myself and my investments. Since I'm using the LLCs just for holding property, I'm assuming I don't need to establish EINs and everything just get the LLC established?

I guess this is more of a tax question than anything. Any guidance here would be greatly appreciated. I just don't want the loan to be called because I moved a property after the purchase. 

  • Jonathan Edmund
  • Loading replies...