Setting up an LLC before or after buying a property

[Ryan R.]

I was thinking of setting up an LLC to hold the property I'm trying to buy. Is it generally better to set up the LLC before and use it to buy the property or buy on my name and transfer to LLC after? Would it affect my ability to get conventional residential loans if I buy the property using an LLC? Would love to hear the implications for transfer to LLC after the acquisition as well

[Jonathan Taylor]

You cannot close a conventional loan in an LLC only a personal name. What you do after you close, is up to you. There are loan programs that can close in an LLC but those aren't conventional. But this question should be directed to a CPA with knowledge in your state. Investor's will chime in but trust the word of a CPA or Real Estate lawyer instead of folks on this site.