LLC for Rental/Business w/ Mortgage and Property in Personal Name

[Bart Blair]

I just listened to this podcast episode: https://www.biggerpockets.com/...

Ryan mentioned that he has his mortgage in his own name but uses an LLC for the "rental business" aspect of income and expenses. He did not mention if he had transferred the Title into the LLC.

Is this possible? Does it make sense (and afford the same protection) if the mortgage and title are in a personal name but the rental business is operated through an LLC? Anyone have experience or thoughts on this?

[Karl Denton]

So, I have one 3 unit for the time being, however I have talked to my CPA and while i have opened an LLC. He recommends I dont invoke it until i have another property. Sometimes quick claiming a deed to the LLC can also spark a Due on Sale clause in your loan agreement. Not too likely to happen however iv heard more and more of it lately because they will get you out of your low interest rate and then refinance you under the new 8% rate. So While they wont call the due on sale, they will cause you to refinance. Honestly until your over a million in assets from investments then you'll want the LLC. Make sure you have good insurance and a umbrella policy however.