All Forum Posts by: Jim Carey

Thank you, Randy. This is very helpful information. Seems like I have a lot of work ahead of me... I like the idea of a commercial loan to assist me to acquire more properties. Recently it's been difficult to work with lenders... Take care, and thanks again for your input! 

Hi Everyone,

I'm new to BiggerPockets and looking for some guidance on managing my real estate portfolio. I currently own 9 long-term rental properties, all under my name. I'm considering transferring these properties to an LLC to facilitate further property acquisitions, as banks are limiting my lending due to exposure.

I've heard that setting up a Holding LLC to own the properties and another LLC to operate and lease them can provide an added layer of protection. I'm also exploring the option of hiring an attorney or title company to assist with transferring the deeds. Most of my lenders seem open to allowing the transfer of mortgages to the LLC once it's established.

Does anyone have experience with this process? My goal is to start purchasing properties directly under the LLC. Any suggestions, step-by-step guides, books, or resources would be greatly appreciated.

Thank you!