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Updated about 2 years ago,
Placing properties into new corporations
Hey there,
Looking for some experienced advice. I am currently house hacking multi families and am working on my next purchase.
I have obtained an accountant and he suggested I create a corporation to quick claim deed my properties into. This would protect me personally in the event a tenant wishes to sue etc.
However, when I speak to my mortgage broker, he is concerned that if I take my rental income and place it into a new corporation, I will not be able to use this income for two years.
This would significantly hamper my ability to purchase property this year.
What are your guys experience with this and how do you navigate around this issue.
Thanks!!