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Updated over 5 years ago,
LLC Ownership Transfer
Hey guys,
Just looking for some knowledge from someone with experience in this arena. I have an llc in which I have been purchasing properties through already, however the banks usually charge 20-25% down payment when the loan is under an llc.
Has anyone had any experience with purchasing a property under their own personal name to receive the advantageous terms of a personal loan (5% down and lower interest rate and 30 year amortization) and then transferring ownership to the llc?
If so, what are the ramifications of this?
What is the process and who do I contact to transfer owernship?
Is it easier for someone to come after me and my personal assets or will it continue to keep my personal and llc affairs separate?
Thank you,
Tom