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Updated over 2 years ago,

User Stats

107
Posts
44
Votes
Scott Goulet
  • Rental Property Investor
  • Port Saint Lucie, FL
44
Votes |
107
Posts

Single Member LLC vs Multi-member LLC (spouse)

Scott Goulet
  • Rental Property Investor
  • Port Saint Lucie, FL
Posted

Hey BP, 

I hope everyone is doing well. I am in the proess of completing a cash-out refi on a triplex that I own, and I thought it might be a good time to transfer it from my personal name to an LLC.

My realtor is suggesting we do a quit-claim deed after the cash out refi is complete. 

I am wanting to start and LLC, but i have questions from two perspectives:

1. From a tax perspective in Florida, is there an advantage either way.... just myself on the LLC or my wife+me

2. From a property buying perspective, does it matter if we are both on the LLC or not? eg we should be able to both get 10 mortgages/properties in each of our names. If we are both on the LLC's, would that limit us to only 10 between the both of us?

I appreciate all of your help! 

Scott G 

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