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Updated over 5 years ago on . Most recent reply

Phillip Scalise's profile image
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Phillip Scalise
  • from Natrona Heights, Pennsylvania
  • Member since Mar 3, 2016
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Phillip Scalise's profile image
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Phillip Scalise
  • from Natrona Heights, Pennsylvania
  • Member since Mar 3, 2016
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Phillip Scalise
  • Natrona Heights, PA
13
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35
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Rehabbing & House Flipping

The bank won’t allow me to deed my property into an LLC.

Phillip Scalise
  • Natrona Heights, PA
Posted

The bank won't allow me to deed my single family rental into an LLC... what should I do next? Just use an umbrella policy until I sell this property and buy a new one that can be deeded into the LLC upon purchase?

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Wayne Brooks
  • #1 Foreclosures Contributor
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  • from West Palm Beach, Florida
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Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Just buy an umbrella policy and don't worry about it....the LLC thing is over hyped.

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