Working Within My LLC
I have form a LLC, and I own 3 properties that I purchased in my own name. I want to start doing business in my LLC. Can I and how do I put my current property into my LLC as well as purchase new property in my LLC?
Pullman
I just asked the same question to a friend of mine who owns 7 properties. He created an LLC for each of his properties. I was told you can "Gift" the Deed over to the LLC. This was done at the County Clerks office.
Thanks for replying. Tell me is gifting the deed the same as doing a quick claim deed? Also, would you happen to know anything about land trusts?
whats up Pullman?
I am no legal position but i have read that you deed the house to the LLC. Now to buy properties, I think all you do is you as yourself with your credit, and buy it with the LLC. I am am in the same position, but I think I might open a new S Corp for this purpose only.
I am in MN too, mostly in South Burbs. How are things for you? Maybe we could network?
Happy 2006!