Nashville, TN · Member since 2023 · 7 posts · 8 votes
I am starting out with REI and have some basic questions on proper way to sign the Purchase Agreements as buyer. I have a Master LLC and two sub entities as intent to have STR and LTR. For starting out, assuming we will go with a conventional 30 yr where we will be personal guarantors. Do we state that the Buyer is the LLC and sign as LLC or buyer is LLC and sign as Managing member underneath LLC? I want to make sure the Deed is held in the LLC for all the protection purposes
Thanks in advance!
Also, looking for mentor as starting out... note: I am in Nashville but looking for deals in other markets. This deal above is in small town in Southern Indiana
I am starting out with REI and have some basic questions on proper way to sign the Purchase Agreements as buyer. I have a Master LLC and two sub entities as intent to have STR and LTR. For starting out, assuming we will go with a conventional 30 yr where we will be personal guarantors. Do we state that the Buyer is the LLC and sign as LLC or buyer is LLC and sign as Managing member underneath LLC? I want to make sure the Deed is held in the LLC for all the protection purposes
Thanks in advance!
Also, looking for mentor as starting out... note: I am in Nashville but looking for deals in other markets. This deal above is in small town in Southern Indiana
Hi Emily,
As for your question, when signing a purchase agreement under your LLC, list the LLC (or the specific sub-entity) as the buyer. Then, sign as the managing member or authorized representative, like this:
Buyer: XYZ LLC Signature: Emily Poerio, Managing Member of XYZ LLC
This keeps the deed in the LLC for protection. Since you're using conventional financing, you may need to close in your personal name and transfer the deed to the LLC after closing, double-check this with your lender.
If you need any more help, especially with financing, feel free to reach out anytime!