Pay-off NNN mortgage - need an intermetidate LLC

[Ganesh S.]

Hi Everyone,

I am paying off a mortgage for a NNN property that I have bought using LLC name A. My attorney is indicating that it may be better to first create a new LLC B where all my funds would be deposited first and then pay off the bank.

LLC B would also be under my name. LLC A can pay a mortgage to LLC every month, but since both are held in my name I dont see any tax advantages.. Correct me if I am wrong.

Are there any advantages of creating a new LLC just for paying off? Or is it possible just use an Escrow account and pay off the loan while still holding the property under LLC A.

Any advice/comments?

Thanks
GS