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

Comments(3)

  • jalanfish3rd October, 2005

    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.

  • Pullman3rd October, 2005

    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?

  • TNproperties29th January, 2006

    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!

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