What are my liabilities here

What are my liabilities here

I am ready to get off the sidelines as an earlier post talked about today. I have found a REO property that is listed way below FMV needs some rehabbing, and am thinking the bank is looking for a bidding war. Regardless, I want to make an offer on it, I don't have my LLC completed (partner and I were going to discuss division of labor etc next week on vacation) and I am wondering what my liabilites, tax wise would be if I were to do it under my own name. Could a move the title into the LLC after its set up? I'm feeling like the bidding will be over by the time I return next week from vacation. Does anyone have property in their name and not in LLC or Scorp or Ccorp? I look forward to the great info supplied here on the forum.



Cathy B

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