Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Question on starting an LLC
I have been a remodeling contractor 40 years and burnt out, I am ready to start a new journey in real estate investing that I could get my kids involved in a few years, I would like to keep my personal house for rental property and start house hacking with my girlfriend. I owe $200,000 on the house, I did a 30 Yr fixed in 2019 with low interest. The house appraised $400,000. My question is should I start an LLC and how would that work out with my house do I quick claim to get LLC on title? Part II My girlfriend owes a small condo on a Parkway on one of the popular Minneapolis Lakes and we would like to turn that into Short Term Rental or long term. She owes around 125,000 and it is worth around 180,000. What would be the best way to start out.
Thanks