Purchasing property for LLC (partnership) in personal name

[David Newton]

An unrelated partner and myself have started an LLC and purchased our first property. We paid cash and the property is in the LLC and plan to refinance in the coming months.

My question relates to additional properties. What is the process/ramifications for the accounting if we purchase in one of our personal names to get better financing and then quit claim the property into the LLC at a later date. One bank told us we can transfer in 4-6 months once it is sold on the secondary market. Are we able to run the finances/income/expenses through the LLC while waiting for this to happen, or will we need to use a commercial loan and go through the LLC on day 1.

Thanks in advance!

DPN