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Updated almost 8 years ago on . Most recent reply
Master LLC/Series LLC
Hello
I am a real estate investor for Illinois. I have purchased 2 single family homes in 2016. Both will be buy and hold to generate income. I am a have formed a Series LLC, looking to obtain more properties and form additional Series LLC's.
When I purchased the second property, I purchased using my Series 1 LLC, but when I purchased my first property, I did not purchase the property under a Series LLC, but under the Master LLC.
Is there a way to transfer the first property to a Series LLC? Is there any legal ramification if the property remains under the Master LLC and all other properties under Series LLC's?
Thank you in advance for assistance.
Most Popular Reply
Hi @Iva Robinson, if Vincent isn't able to help out, I just heard a fantastic podcast with a guy that was interviewed all about this topic. Go to the Joe Fairless, Best real estate investing advice ever podcast, episode JF964. Sorry, BP for shouting out another podcast, but it's valuable info! :)