Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 13 years ago,

User Stats

92
Posts
9
Votes
Raza Rizvi
  • Rental Property Investor
  • New York, NY
9
Votes |
92
Posts

Quitclaim to LLC and its issues

Raza Rizvi
  • Rental Property Investor
  • New York, NY
Posted

Hello everyone,
I am planning to buy a couple of properties in AZ. Currently I own 2 properties in Manhattan - I live in one and rent the other. My questions are:
* Should I form a LLC for the new investments. The mortgage company I am working with said to do the following:
I will guarantee the loan in my name and then the title company can vest the property in the LLC after closing. Does this make sense?
* The other option is to quitclaim the mortgage to the LLC but I believe the mortgage company can call out my loan. That makes me nervous
* Does anyone know of banks that finance under LLC's with reasonable interest rates if I personally guarantee the loan?

Any feedback is appreciated.
Thanks

Loading replies...