Transferring single residence mortgage to an LLC
My business partner and I have a property under contract. We have bought all of our other properties in our personal names. We were thinking about purchasing this one in an LLC and getting a commercial loan, but the rates are just so much better if we do a traditional conventional loan.
Does anyone have experience purchasing property in the personal name and then waiting after the first mortgage payment to transfer into an LLC? Is it a pretty seamless process? Thank you!