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Updated about 3 years ago,

User Stats

5
Posts
3
Votes
David Bridges
  • Flipper/Rehabber
  • Nolensville, TN
3
Votes |
5
Posts

Can my wife buy a property and then hold it in my LLC?

David Bridges
  • Flipper/Rehabber
  • Nolensville, TN
Posted

I formed an LLC in Tennessee in which I'm the sole member, with the intention of starting a business flipping houses and then eventually transitioning to more of a buy and hold strategy with both long and short term rentals.

Slight change of plans- My wife and I would now like to acquire an Airbnb first. She would get a loan in her name(Only she would qualify, as I do not have a W-2 job), we would use money from my LLC for a down payment, and then hold the property in my LLC. After a while we would BRRRR the deal. Is this possible, or is it better to add her as a partner? Would we lose protection of the LLC? Is it considered comingling of funds? Any insight, attorney or CPA recommendations in the Nashville area is much appreciated.


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