Financing and Purchasing Under New LLCs

[Jonathan Edmund]

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. 

[Nate Sanow]

seems like a great structure on the Scorp, I'm actually taking note of that and need to probably do that myself. Depending on your state, you could consider making one LLC / Scorp a member of another, and then being selective on who you share what information with. I haven't done that yet but met with an attorney at length to go over that plan, his bill will be extensive but seems to bear merit.

Also, I know this isn't what you asked but I had two thoughts:  1.  lenders are like dating, not marriage, try a few before finding the "one" but also consider not having a "the one" but many one's....terrible analogy to say, why in the heck would they not consider lending to someone with apparently a solid income and a paid for property that could now possibly provide further collateral?  2.  this seems like a good reason to dive further into asset based lending which begins to make things like income more irrelevant, and where the deal itself is what they focus their lending on.   

Just my $0.02 and thanks for posting the SCORP part I need to do that, you would be the 2nd source of wisdom pointing me towards that.  Good luck!!!