When NOT To Use An LLC For Your Rental Property

Summary

This video, presented by an attorney, outlines specific scenarios where using an LLC for a rental property can be problematic. Key takeaways include the fact that conventional lenders won't let you close in an LLC's name, and transferring a property bought "subject-to" an existing mortgage into an LLC can trigger a due-on-sale clause. The speaker also warns about state-specific transfer taxes (like in Florida and Pennsylvania) and suggests using a Land Trust as a safer alternative in certain situations to maintain anonymity and avoid lender issues.