All Forum Posts by: Jack Ventura

Thank you everyone for the reply. 

@John Negomir, Thank you. Do you know, if the loan is guaranteed personally but the deed of the house is under the LLC will this limit liabilities towards me should something happen to the tenants while renting?

@Storm S. so the due on sale clause can be called upon at anytime ? Not just at the moment of the transfer ?

HI, I am a new investor, looking for a property in Colorado. I am going into buisness with a friend so we will be forming a LLC. We were told by a lender today that houses are not purchased and money is not lent to LLC's. It is done to the person or people individually and then after transferred into the LLC.

So my question, in Colorado, Can a home be purchased under a LLC while also having the mortgage put under the same LLC. Or, does the home get purchased under your personal name and the loan issued to your personal name, and then after, the title of the home is transferred to the LLC (which is what I was told by a lender). If the latter is the case will the mortgage also get transferred into the LLC's name?

Thank you for any help!