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Updated almost 10 years ago,
Loans in my name or LLC? What's the best way to go?
Hello all,
I currently own two 4 unit buildings and 2 Single Family rentals. I have the deed in the LLC name for asset protection and am meeting with an attorney to see if my protection is working well. My question is this....
I like being able to buy properties in my personal name because I can get a lower interest rate and hold it for 30 years as opposed to a loan in the LLC that I personally guarantee, but it is a 5 year balloon with a 20 year pay-out. My last deal I bough in my name and Quit Claimed it over to the LLC. (My banker said he didn't want to know that, but keep making the payments and no problems). Is there a better way to finance to take advantage of our low interest rates and lock them in for a longer period?
Thanks everyone!
Michael Dowd
Dowd Properties, LLC
www.DowdPro.com