I was wondering when it makes sense to get an LLC for a property. Should this be done before making an initial offer or can it wait until the end of the due diligence period? My assumption is that once a contract is signed you will want it to be singed in the name of the LLC, right?
Just make sure your contract is assignable. Don’t ‘jump the gun’ and file and pay for your LLC too soon. Your deal may fall out of bed during the due diligence period and your LLC will not be needed (until the next deal comes along!). It typically only takes a week by mail to form an LLC. If you live locally, you can do it same-day. Wait until you are really, really sure your due diligence checks out and you are certain you have the financing lined up.
-jl-