New Investor - New Builds: Buy Land in Personal Name or LLC?

[Joshua Batson]

Hi All,

Thanks in advance for your attention to this message!

I'm in the process of buying land, having a builder build a home for sale on that land, and then selling said home for a profit.

If I buy the land in my name, get the construction loan in my name, but I want to sell it under the LLC's name, at what point am I would I report the income under the business's name? I'm confused because if the land and the loan are in my name, how does it work with reporting the income as a business?

Follow-up question: if I hold the property after having bought it under the LLC's name, wouldn't I be subject to commercial rates instead of consumer rates when I go to refinance the construction loan into a permanent loan? I'm trying to get the best rates possible while also keeping my personal assets away from the business assets in case something was to happen on the job site.

Thanks again for your help. I look forward to hearing from you guys!

J. Caleb Batson