Author Topic: Property Title in LLC or Personal?  (Read 402 times)

jleo

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Property Title in LLC or Personal?
« on: December 03, 2018, 11:57:56 PM »
Closing on a business with real estate included and have the option to put property title in my new LLC or personal name and not sure which one is the best way to go?

I am leaning to put into LLC to reduce personal liability but not sure if there are downfalls to this?

Anyone with some knowledge on this I appreciate your feedback!


tralfamadorian

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Re: Property Title in LLC or Personal?
« Reply #1 on: December 04, 2018, 11:18:08 AM »
One of the main reasons people put residential, 1-4 unit, investment property in their personal name is so they have access to cheap fannie/freddie mortgages. Secondarily is the upfront and ongoing cost of LLCs in some states (CA is the big one).

If this is a business deal with property included, then you are getting a commercial/portfolio mortgage, seller financing or SB loan, correct? Of so, then I would definitely go for the LLC.

YttriumNitrate

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Re: Property Title in LLC or Personal?
« Reply #2 on: December 04, 2018, 03:37:16 PM »
What state are you in? Can you do a series LLC and put the business and the real estate in two separate sub-entities?