All Forum Posts by: Shanequa J.

If you are financing a house, most banks will not let you take title in the LLC. You would have to transfer the title after closing. If there is not financing, then you can buy the property in the LLC name. An LLC is a separate business entity therefore it gives you some legal protection. Meaning that if the LLC owns the house and a tenant sues you, then a lawyer is not supposed to be able to go after your personal assets. The costs vary by state. I think it is around $200 in North Carolina.

In my opinion it would be the company's fault. How could you have fixed the problem if, you had no previous knowledge of the problem? However, you could be sued along with the company just because it is your house.

There are no rules as long as you can make money. The condition should not matter if the numbers are good.

I have bid on BOA VA Vendee Reo houses and yes they do require you to prequal with them first. However, you do not have to finance the houses with them; meaning you can put 10% down if your mortgage company allows you.