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Updated over 1 year ago on . Most recent reply
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Best two members LLC for real estate rental
Hi,
I am working with a married couple to refi their single family rental in Tyler, TX. The husband's credit score is low and on the title. We can refi with his wife's higher credit score if she is also on the title and the rental is in an llc.
He is planning to add his wife as a co-owner on the title then put it in the nonprofit llc which he and his wife are board members.
I found information online shows it can be done and seems like there are many extra steps.
Other information shows the fastest and simplest type of LLC to set up for holding real estate rentals with two members (owners) is a "Member-Managed LLC."
Can anyone confirm this information and recommendations of a real estate attorney in Tyler, TX?
Thanks,