LLC formation in Virginia

[Chris Susserman]

Hi All!

It's been a while since I've posted but I browse constantly and can't seem to find a great answer to my question.

My wife and I are about to purchase a property soon and I've been trying to find the best advice on whether or not to start an LLC. We currently have one other property, we lived in it for a couple years but when we moved we kept it and made it a rental.

Both properties are in Alexandria, Virginia.

I guess my question is: if we aren't able to purchase a property under am LLC right now, is it worth establishing one to for future purchases? For example maybe we can have it to run costs through the LLC and build it's credit profile in order to possibly apply for financing down the road. I know some banks will allow for the transfer to an LLC but that doesn't seem worth the headache.

TIA for any advice!