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Updated about 2 years ago,

User Stats

265
Posts
91
Votes
Joshuam R.
  • Specialist
  • Florida
91
Votes |
265
Posts

SFH personal rental transfer into SMLLC

Joshuam R.
  • Specialist
  • Florida
Posted

What is your experience in doing so for the following areas:

- Landlord insurance policy (I learned and confirmed with agents that my name would remain, and we just go ahead and add the LLC into it also) (This will also be under an umbrella policy)

- Loan (I learned that as long as the LLC is owned by the original primary loan holder, they will not need to call on the loan)

- What are the TAX advantages/disadvantage of doing this (my status is not full-time investor, still hold full time W2 job, and a SMLLC)

Thank you very much BPeers!