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Updated almost 5 years ago, 01/11/2020

User Stats

44
Posts
24
Votes
Phil Shearcroft
  • Rental Property Investor
  • Kansas City, MO
24
Votes |
44
Posts

Purchasing in personal name then switching to LLC

Phil Shearcroft
  • Rental Property Investor
  • Kansas City, MO
Posted

Hey BP, 

I have an opportunity to get financing in my personal name for lower priced homes but need the initial purchase to be in my personal name. There is nothing stopping me after the fact from transferring it into my LLC, but has anyone done this and regretted it later? My initial concern is tax implications and how it affects my overall financial snapshot. Can anyone offer their experience with this? I am talking with my CPA but just from an investor standpoint is it worth it?

Thanks for your insight! 

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