I have a rental home in my name, I am looking to move it into my LLC that I’ve had since 2022, in anticipation. I am ready to move my rental property into my LLC so that I can get another rental. . . what’s the process for that?

I know it’s a rudimentary question but I don’t have a network of investors so this is all new to me. I am ready to free my personal DTI ratio because the rental is weighing on that.

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Do you have a living trust? A trust atty will draw up the paperwork for an LLC and accommodate in your trust accordingly. Btw, your DTI won’t change.

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Got it thanks

If you have a mortgage on the property that you plan on transferring to the LLC, you should probably run it by your lender to make sure they're not going to call the mortgage due on transfer, which most mortgages allow for even if the banks didn't always bother.

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