Can I do this? What advantages are there

**strykr14** · 12-29-2009, 11:16 AM

Hello,

I have 3 investment propeties in TX, all single family homes. I have had them for a couple of years now - it's been rocky to say the least.

Anyway, I started an LLC but have no idea how to get the properties under the LLC - right now they are in my name.

How would I get them under the LLC? What are the advantages?

Jay

**taxlienadvisor** · 01-06-2010, 01:26 AM

Hello,

I think you may want to focus your attention at this point on developing an exit startegy to either sell, or rent these properties to start recooping some of the monies you have invested.

The LLC will be a great tax write off for you, but it is of more importance that you come up with some unique and savvy marketing methods to unload the properties if that is what you are wanting to do.

I have some very simple yet very effective "thumbprint ads" you can use to bring good traffic to your properties for very little in advertising costs.

Just semd me a PM with your email and I will forward you some good simple ads, and how to handle the calls that come in, and also how to set up the open house so you get many potential buyers there at the same time to create urgency.

Hope I can be of assistance. Good Luck.

**the_hendo** · 01-16-2010, 09:29 PM

If you live in Texas, then see what you can do to keep them and rent them out. Not sure how the LLC will help you in that respect. If you live outside of Texas and you yourself are renting, I would find a quick exit strategy like strykr14 said.

**Derek** · 01-17-2010, 09:18 PM

You can transfer title to the LLC via a real estate attorney or title company.

Keep in mind that transferring title to an LLC won't protect you against mortgage default as you are most likely personally liable for failure to satisfy the terms of the loan.

The LLC will protect your personal assets from a claim by say, a tenant, but not from your mortgagor.