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Updated over 7 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Mark DeSantis
  • Investor
  • Marietta, GA
2
Votes |
9
Posts

LLC for partnership - How to do it now?

Mark DeSantis
  • Investor
  • Marietta, GA
Posted

Okay, I need some major help from someone that currently bought real estate with a partner @Linda Weygant

We are trying to buy one SFH in one person's name/credit. We already have the house under contract and have the lender. Our partnership agreement is that we both are responsible for the everything, 50/50.

The question is, How do we put the title into an LLC, legally so the bank won't be able to call the note? The main reason for the LLC is so we both get the tax benefits from the real estate and for the legal protection it provides.

Any help is appreciated.

Thanks

Mark

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