Need to move duplexes to LLC but loans can be called due??

[Amber Hooks]

Hello everyone. I am fairly new here, so thank you in advance for your patience with my questions. I have a duplex that I purchased using cash down and a conventional loan. I need to move the property into an LLC. However, the lender has indicated that the loan COULD be called due. The lender also indicated that she has not actually seen a case of the loan being called due...but I don't want to risk that it would happen to me. Does anyone have experience or advice about this? This property is a partnership investment, so I THINK it needs to sit in the LLC I have with my business partner. We file a partnership return, and get K-1s.

Second, I am closing on another property that I need to place into a newly (yet to be created) LLC. However, my lender said that I cannot put the loan in the LLC's name and same goes as above if I move the property into the LLC after closing.

What the heck do people do in these cases?  I just don't get it.

Again, thanks in advance for your patience and help!

[Ned Carey]

@Amber Hooks  I think @Account Closed over states his case. Yes there are Gurus who recommend LLCs and are setting you up for expensive courses or legal fees. Depending on your personal situation and LLC may not be the ideal choice. LLCs often do not provide as much protection as people expect them too. However that does not mean they offer no protection.

To simply say not to open an LLC without knowing more about you, your current and your projected future situation is irresponsible. Every lawyer I know that owns property, owns it in an LLC and not in their own name.