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Updated over 10 years ago,
Type of legal entity?
Plan on acquiring a 2-4 unit in RI/MA next year with my business partner, I believe getting a LLC is the cheapest form there is compared to others options. But I have some questions I want to ask experienced investors of their first time.
question:
1. Will the lender have an issue I want to put the property in an LLC when getting an mortgage?.
2. Is it better to put the property in our name, to get mortgage then transfer it to an LLC?.
3. When you have or plan on acquiring multiple property, I know multiple LLC are costly how do you solve this problem?, i.e series LLC?.
4. Besides getting the LLC, what other legal ways can I separate my property/LLC from our personal name?.
5. When acquiring first investment property besides the agent, loan officer what other people should be have on our team?, to make sure all our ducks are in a row.
6. Where can I find more information about lenders and entities?