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Updated over 1 year ago on . Most recent reply
DBA or LLC
Hi everyone. With my past rental properties I never created a DBA nor an LLC and thankfully everything worked out fine. Fast forward to today, I currently have 3 properties and I will be inheriting 10 additional ones (4 SFR and 6 multi-family). I know my way around with the purchasing and financing options/process for properties held as an individual, but I am ignorant as to how it all works if commercial. Given my experience , or lack of, and the number of properties, what is your recommendation on me establishing or not a DBA or LLC?
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#5 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Tampa, FL
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#5 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Tampa, FL
A dba is just a fictitious name for another entity. I would go with the LLC route. If you plan to borrow, that will help. Remember to go an operating agreement, even if you're the only member, that lays out who is authorized to sign and conduct business for the LLC. Lenders will need that. I hope that helps.