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Author Topic: Just Starting Out Financing ?  (Read 1600 times)

Offline tamahitter

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Just Starting Out Financing ?
« on: January 02, 2007, 06:11:15 pm »
I'm in the process of getting started in rental properties, I am going to aquire an LLC for my entity but have been told that beginning LLC's have more trouble financing then your own personal credit, my question is, which someone told me this and I wish to verify it, Can you purchase rental properties in your own name and then quick claim deed them to your LLC? I have read that transfer of ownership is illegal and grounds for lenders to want it all, now. Does a quick claim deed fall into this catergory, or is it legally possible to do? Thanks for any help,,,Damion

I plan to ask my attorney, as soon as I hire one.

Offline ronsam4

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Re:Just Starting Out Financing ?
« Reply #1 on: January 03, 2007, 08:11:11 pm »
Yes you can buy the property them quit claim deed it to your LLC. Lenders to like it when you do that but you can do it that way. WAMU will lend to LLC's and a few other lenders. If you do quit claim over to your LLC then you probably with have to do the reverse when/if you refinance.
Ronald Sampson
American Mortgage
[email protected]
732-729-0200

 




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