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Updated over 7 years ago on . Most recent reply

User Stats

120
Posts
16
Votes
Carrie A.
  • Dubois, IN
16
Votes |
120
Posts

Should I form a LLC right away?

Carrie A.
  • Dubois, IN
Posted
I put an offer on my first purchase and it was accepted! It's a duplex 2/1. I'm nervous but very excited! QuEstion.... should I go ahead and form a LLC?

Most Popular Reply

User Stats

10,250
Posts
16,108
Votes
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
Votes |
10,250
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I don't bother for little residential property with debt.  Too hard to get loans.

Unless it's a commercial property, you are rich or you are famous, I wouldn't.

I'm neither, but do have LLCs for my 5+ unit apts.  Hope this helps @Carrie A.!

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