Posted by csh on October 09, 2003 at 14:22:16:
How is your LLC going to take title after acquisition? Some lenders frown on this, unless you own it free and clear?
Carrying Multiple Properties - Advice - Posted by Naz Haji
Posted by Naz Haji on October 07, 2003 at 22:57:37:
All,
As I get my feet wet into the world of real estate investing, one of the questions that I can’t seem to get answered is how on can actually carry multiple properties that are financed? I dont anticipate buying and then waiting to sell before buying again. Someone suggested assigning the properties to an LLC then letting the LLC sell the property (doing a quit claim deed). I have also heard that even if the LLC is involved in the purchase, the shareholders within the LLC are still always on the hook personally. So how do all these people do it? having 8, 10, and 12 properties on the go the at the same time…Is there a model or a strategy?
Thanks
Naz
Re: Carrying Multiple Properties - Advice - Posted by Don (Atlanta)
Posted by Don (Atlanta) on October 08, 2003 at 13:26:11:
I am not a lawyer, and you should check with a lawyer, but I believe the idea behind a LLC is to shield against personal liability. My plan is to have the LLC take title to all properties upon acquisition.
Don