Moving property to my LLC

[David Garcia]

I want to secure rental properties I purchase under my LLC to mitigate risk but have run into a few hurdles. I own one rental property outright and am seeking financing to purchase another property. I also have an LLC setup but have done nothing with it. I've called several banks about opening a business account in my LLCs name and getting financing but they are telling me that I have to personally hold the property in my name and can't move it to my LLC until I pay the loan off. I understand being personally responsible for the loan but don't understand why I can't put the home in my LLCs name. Am I going about this the wrong way? Are there any good books that walk you through this process? What's the point of have an LLC if I can't buy properties in its name?