Do I have to have an LLC to do lease option assignments?

[ndalama 0]

I have everything I need to do my first lease option assignment except for the LLC.

My budget is so tight right now .I simply don't have the money to get an LLC.So I was

thinking of doing one in my name and then get the LLC on my second deal.I am

concerned about having the tenant buyer's option consideration in my name creating

a problem at closing when it's time to get a mortgage.Will the lender still see that it

went towards the sales price ?

[MichaelC 160]

If you are doing an assignment, there really is little need for an LLC right now. You won't be involved in the deal long term, so there's little concern for asset protection and/or privacy.

If you are using the correct paperwork in the deal, it should flow so that the lender can easily understand what went down and the only factor in the financing will be the t/bs personal details.