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Updated over 9 years ago on . Most recent reply

User Stats

50
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21
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Julia Fergo
  • Technical designer
  • Los Angeles, CA
21
Votes |
50
Posts

in escrow, shall i form LLC prior to close escrow?

Julia Fergo
  • Technical designer
  • Los Angeles, CA
Posted

i am in the beginning of 45 days escrow process to purchase a house in LA which i will use either as rental or live in one room and rent another. what would be the right thing to do right now? to form LLC before title exchange to my name? or shall i just buy on my name and quit clame later? or - i just have read a blog in BP by Ken Corsini that not Quit claim but rather should be Warranty Deed.i have to say my CPA doesnt know the answers...:)

Most Popular Reply

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4,365
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1,248
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Manolo D.#3 Contractors Contributor
  • Contractor
  • Los Angeles, CA
1,248
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4,365
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Manolo D.#3 Contractors Contributor
  • Contractor
  • Los Angeles, CA
Replied

Deal with it later, you're living in the house anyway. CA has a high upkeep on LLC and other legal paperworks, not yet worth it if you only renting another room.

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