Putting houses into an LLC

[Katherine Rossell]

Hello,

I need a little advise or feedback about my current situation with my LLC. I currently own two duplex's (one that I live in) and I am in the process of buying a 4 unit with a conventional loan. At the start of this real estate investing journey, I was reading books and took some other coaching courses and seminars for real estate investing. Through those outlets, I thought at the time that I needed to start an LLC. My coaching course provided my information to an affiliate company which conned me into purchasing an LLC through them with the promise of education and hand holding through the process. Needless to say, I ended up setting up my LLC through this company. I then opened up two business accounts at a bank for the LLC. After spending some more time on Bigger Pockets and reading more books, I think that I jumped into getting an LLC to quickly. I don't have a lot of equity in my houses and I don't have any large sums of money or cool stuff that someone could get in a law suite.

Now, I have an LLC that is sitting empty with no houses in it and two bank accounts that are stagnant. Should I put one of my houses into the LLC? Can I use the business bank accounts that I set up in my LLC for the expenses and rental income on the properties even if they are not in the LLC? Would putting one of my houses into an LLC hurt my ability to get another conventional loan for another building?

Any thoughts or shared experiences would be helpful. 

Thanks