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Updated over 4 years ago,
Questions about putting a property into an LLC
Good evening, I am in the process of refinancing my current home to cashout, buy a second home as primary and keep my original home as a rental. My wife and I are on the deed to the first but she wants no part of the rental so I am refinancing on my own. My lender is telling me to do so in my name and then after closing , quitclaim the deed into a LLC. Here is where I want some insight on this because this is my first investment. I want the property in an LLC for asset protection. Am I going to run into issues doing it this way? Any help is greatly appreciated as I have to do this in a conforming conventional to make it work