Bank won't allow purchase under newly created LLC

[Jean Castillo]

Some background before the actual questions...

A business partner and myself recently purchased a property for rental profit. Our initial thought was to have the property under our LLC - partnership (recently created within the past 2 months). We soon realized that the bank won't let us put the property under the LLC name due to age of the company. Bank told us the company has to be active for 2-3 years and have some cash flow history prior to transferring the property to the LLC name. We ended up purchasing the property under our personal names. That being said, we are planning on purchasing additional properties in the near future (2-3 months) and they will all be under our names (unless there is another solution to put them under the LLC).

Question is... I heard that in order to transfer a property to a company name it can cost anywhere from $3,000-$5,000. If that's the case, what should be the best approach to this without killing our profits? Also, I've read in some posts that each property should be in its own personal LLC vs having multiple properties under the same LLC which doesn't make sense to me. I also heard having a "mother" LLC owner of other LLCs which would essentially be dedicated to each individual property. All of these options would require that the LLC (or LLC's) be active for a few years before transferring the "ownership/name" based on the bank's statement).

Our end goal is to keep purchasing properties in the near future while doing it the smart way and protecting our personal interests. We are new to LLCs and rental property as partners. Any advice would be greatly appreciated.