Do I need an LLC? Siblings purchasing rental property.

[Maria Kostadinov]

My brother and I are purchasing a home (cash .. brrr method) and planning on doing a cash-refi (conventional loan) after a 12 month seasoning period. We plan on purchasing the home in our personal names - mostly because if we use an LLC, we would be looking at different type of refi loans…..

Do we need to have an LLC or can we open a bank account with both our names?? The account would be strictly for our rentals. rental income deposited and rental expenses debited. We do plan on having multiple rentals in the near future!

Thanks for your advice!