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All Forum Posts by: Carl McLean

Carl McLean has started 1 posts and replied 4 times.

Buying & Selling Real Estate

Post: ownership options

Carl McLeanPosted
  • Investor
  • Milwaukee, WI
  • Posts 4
  • Votes 0

i was considering that as well. I close tomorrow and reviewed the closing documents this weekend. Interestingly enough, the documents specifically read there is no clause to that effect. Seeing that, I decided I will wait until after to ask.

0 Votes
Buying & Selling Real Estate

Post: ownership options

Carl McLeanPosted
  • Investor
  • Milwaukee, WI
  • Posts 4
  • Votes 0

Thanks for the response. is there an advantage over using a trust for the same purpose? My understanding is the LLC will have annual fees.

0 Votes
Buying & Selling Real Estate

Post: ownership options

Carl McLeanPosted
  • Investor
  • Milwaukee, WI
  • Posts 4
  • Votes 0

Do I need to then resell it to my LLC?

0 Votes
Buying & Selling Real Estate

Post: ownership options

Carl McLeanPosted
  • Investor
  • Milwaukee, WI
  • Posts 4
  • Votes 0

I am closing monday on a property i have had under land contract for the past year.

The property is considered " non conforming" as it is 2 separate structures on a single lot.

At least one of the units will be a rental for the time being. After closing, i am looking into different options for holding title. The property is in Milwaukee County , Wisconsin. 

I have gotten different advice on how to proceed. Essentially, i would like my name not on title while having a rental unit attached. Any opinions on what options exist for me?

0 Votes