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Updated almost 3 years ago,

User Stats

4
Posts
1
Votes
Erik Martin
Pro Member
  • Westwood, NJ
1
Votes |
4
Posts

Switching properties that have mortgages into LLCs

Erik Martin
Pro Member
  • Westwood, NJ
Posted

Our mother owns 4 SFH investment properties in Florida. She purchased them all in cash with a 1031. She then got a mortgage on three of them to pull the money out to pay off a HELOC. The fourth home is still without a mortgage. The three homes with mortgages are with Wells Fargo. How can she switch them to an LLC as the mortgage is in her personal name. She would not only like to put them in an LLC to protect her further from liability but she would also like to put them in an LLC as she is creating a trust for all of her assets. Any guidance would be much appreciated!

  • Erik Martin
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