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Updated over 7 years ago,

User Stats

170
Posts
158
Votes
Chris S.
Property Manager
  • Property Manager
  • Anchorage, AK
158
Votes |
170
Posts

Transferring personal vehicle to LLC for better DTI

Chris S.
Property Manager
  • Property Manager
  • Anchorage, AK
Posted

Hello! Hopefully I am in the right area for this question. I recently got into REI and have 2 fourplexes which cashflow pretty well. I am looking into picking up another property, but have a crippling $668 truck payment from a cpl years ago when I was younger and slightly dumber. My business account with the fourplexes is doing quite well, and could take a hit of 668/month.

I work full time as well, and was wondering if I started an LLC and transferred the vehicle loan to the LLC, assuming I even could, would that free up my DTI for future purchases?

I realize legal ramifications on transferring properties/vehicle to the LLC, was just wondering if it would work the way im hoping it would. Also I figured I could factor that into the business expense future taxes.

Ad of right now I do not have an LLC, I just keep all the finances seperate. Woukd ve nice to free up 668/month in my personal account and just use the business one to pay for the truck.

Any advice would be greatly appreciated! Thanks

  • Chris S.

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