More specifically, can you use the company’s name to purchase the rehabs or any property without using your personal name, social security #, and credit information?
If there is a way, how do I go about it?
Howdy New2thegame:
There will not be a problem getting the property into the name of the LLC. Just tell the title company or attorney to put the name on the deed. The problem you will have is getting the LLC enough credit and assets to get the loan in the LLC where you do not have to personally guarantee the loan. Doing deals using hard money lenders helps some but personal liability is still there but not as much credit stuff needed as the value of the property and the loan amount are the main factors.
Personally I would suggest getting the loan in your name and then transfer it to the LLC, lenders typically do not like lending to a LLC only.
Lenders will not let you take out a loan in a personal name and then transfer it to the LLC.
My lender does my loan in the LLC name and I personally secure it. My ecuring is really only upon default and if the property is sold due to a default and the selling price is less than the loan amount, then they will come after me.
Properties are transfered into LLC’s all the time.