THE MORTGAGE IN MY NAME VERSES THE LLC

[Chuck Rhodus]

Please help me with advantages/Dis., pros/cons on buying my first triplex (150K if it matters) and putting the mortgage in my name compared to the LLC. I have been told the loan costs are a lot less and then I can do a quit claim deed to the LLC.

ty

[Stephanie P.]

@Chuck Rhodus

If you're really good about not co-mingling funds and can treat your business like it's a business, an LLC really is a good idea. The money is a little more expensive because you can't borrow with the backing of Fannie Mae and Freddie Mac, but your personal assets are safe.

Some folks just get a large (like 2 Million +) umbrella liability policy and are happy.

Stephanie