What is the name of your state (only U.S. law)? Arizona
Hello everyone,
So I have a few questions I was hoping to get some helpful answers too. I am in the process of looking to purchase my first rental investment property. Now I currently have a home and I would like to form an LLC to purchase the rental investment so that I can run the LLC like a legitimate rental property business while providing me with liability protection.
Now I know with how the market is right now, mortgage companies will typically not make a loan in the name of my rental property business LLC even if I personally guarantee the loan. So I know my personal name will be on the loan, which means that my personal name must also be on the property's deed / title at the time of acquisition. Now I have heard of the option to transfer deed from my name to my business LLC after the purchase but I am afraid of the whole “due on transfer" clause that the lender may exercise. When all said and done, I have heard different situations and I want to know the mostWhat is the name of your state (only U.S. law)?
Hello everyone,
So I have a few questions I was hoping to get some helpful answers too. I am in the process of looking to purchase my first rental investment property. Now I currently have a home and I would like to form an LLC to purchase the rental investment so that I can run the LLC like a legitimate rental property business while providing me with liability protection.
Now I know with how the market is right now, mortgage companies will typically not make a loan in the name of my rental property business LLC even if I personally guarantee the loan. So I know my personal name will be on the loan, which means that my personal name must also be on the property's deed / title at the time of acquisition. Now I have heard of the option to transfer deed from my name to my business LLC after the purchase but I am afraid of the whole “due on transfer" clause that the lender may exercise. When all said and done, I have heard different situations and I want to know the mostWhat is the name of your state (only U.S. law)?