Financing arrangements to move a STR loan to an LLC

[Pamela Burke]

I see the debate between LLC or no LLC.....I already have one. My first property I bought with cash so there was no issue. I'm interested in some of the great options available with STR arrangements and would like to know how best to speak with financial institutions to create the option without loosing the down payment options or having a loan come due at transfer. Any advice?

Thanks in advance

[Nathan Gesner]

Quote from @Pamela Burke:

I see the debate between LLC or no LLC.....I already have one. My first property I bought with cash so there was no issue. I'm interested in some of the great options available with STR arrangements and would like to know how best to speak with financial institutions to create the option without loosing the down payment options or having a loan come due at transfer. Any advice?

Thanks in advance

I've been on this board for 12 years and haven't found a single person that had their loan called due when they transferred it to an LLC.

Call your bank and tell them what you want to do. They will tell you it will not trigger the "due on sale" clause and you have nothing to worry about.