What to be aware of in a Seller Financing into an LLC

[Bradley LaBrie]

I’ve been doing research on seller financing and I just want to see if anyone has additional feedback for my first creative deal using the seller as the bank.

I just came to terms with a former partner to buy a duplex from him. Because I'm in the middle of refinancing my BRRRR property I can't go the traditional route.

I'm going to give him $30k down to hold it and then finance later in April. Can I put my LLC as the buyer of this property? Will it affect my ability to finance it later? Anything else I might not be thinking of that I should be aware of?

Thanks in advance,

Bradley

[Steve Vaughan]

Originally posted by @Bradley LaBrie:

@Steve Vaughan thanks man! I’ve heard similar advice. Any advice on protecting yourself from a legal standpoint?

I carry max allowable liability coverage (about $30/no for $300-500k), act above board and have my PM s-corp as the landlord.  

If the insurance co's are willing to offer me $300,000 in liability protection for $30-60 (duplex) per month, who am I to fear the boogeyman?

I've owned dozens of houses for 16 years with no problems.  Just don't over-withhold security deposits.  Tie goes to the tenant.  Many on here have gone through major indigestion for piddly $200 or whatever deposit disputes.