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Updated almost 3 years ago,
Incorporating to Llc
Good afternoon everyone,
My name is Dan. I currently own a 2 unit flat under my name and renting one of the units. I plan on purchasing my next property this year by doing a cash out refinance to conventional loan on my current property and using the cash to purchase my next property with an fha loan.
I've read that it is wise to incorporate each property as an Llc for asset protection as well as open bank accounts for each property as well.
My questions are:
At what point is it best to incorporate a property? after I incorporate, can I sill do cash out refinances on properties under an Llc ? For example with a property under an Llc can I still do cash jout refinances on them? Is it more expensive?!What are the lender ramifications if they see that a property is not under my name but under an Llc ?
Thanks! hope my questions aren't confusing