All Forum Posts by: Nicholas Acosta

Yes, that’s what my concern about all this is.. thank you I will check out the article! :) 

If my rental’s mortgage is under my name and I also took out a heloc for it under my name can I still change ownership of rental to an llc?

@John O'Leary Okay thank you! Makes sense :D 

@Nicholas L. Why not?

Thanks for the help @John O'Leary ! The family member is not on the LLC. So it sounds like I can receive a gift/donation from my family member to my LLC and then move forward just fine right? Everyone says to not mix up personal and LLC funds so I was concerned about transferring funds from my personal account to the LLC account... Thank you

If I'm using an LLC to purchase a property with a hard money loan, but I am borrowing money from a family member for the downpayment.. How would I receive that money from my family member? Would it go to my personal account and then transfer to LLC bank account or does it have to be some other way? Does it have to be a loan with a contract and interest etc even if it's just someone letting me borrow downpayment money for my first few flips? How would that work? Please advise..Thank you

Thanks a lot for the info and advice! :)

That sounds like great advice and we will apply what you said. Thanks for your time 😀👍🏻

Thanks a lot for the advice! I appreciate it! 😀👍🏻