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EP391: How to Transfer Your Property Into an LLC

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Today's episode of Investing in Real Estate is sponsored by Purple. Purple is a leading comfort tech company that uses cutting-edge science to create the world’s most comfortable sleep and sit products. Right now, our listeners will get a FREE sheet set and mattress cover with any mattress purchase. Get yours at Purple.com/INVESTING. 

If you’re getting serious about your real estate investing business, you might need to transfer properties that you own as a sole proprietor into an LLC or other business entity. Since this is a legal process, you’ll want to make sure you have all of your bases covered.

On this episode of Investing in Real Estate, Natali and I are going to walk you through the step-by-step process you’ll need to complete in order to transfer ownership of your rental property. You’ll learn about filling out the deed, how the transfer affects your lease, and so much more. If you’ve ever wondered about how to put a rental property in an LLC, this episode is for you!

On this episode you’ll learn:

  • The importance of holding your rentals in an LLC or other business entity.

  • What you need to know about the due on sale clause.

  • The difference between an EIN and a state ID number.

  • How a passthrough entity works.

  • Key steps you don’t want to miss after transferring your property.

  • The importance of changing your insurance policy.

  • And much more!

Episode Resources
Purple
Advanced Strategies for Real Estate Investors with Garrett Sutton: Part 1 & Part 2
Corporate Direct
EP301: What Is a Deed?
Notarize
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If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.