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Updated almost 10 years ago,
Best way to hold title on investment property
I suppose I may just bite the bullet and schedule a meeting with a real estate attorney and tax person, but I am really considering getting a home equity loan on my current home to pay cash for a duplex. I currently have a paid for SFH (tenant is month to month, been there for 5+ years, never been late. Property is held in my personal name, I just pocket his payment every month. After I get another property I will probably start reporting income form both places and such). I read somewhere and it seemed like a pretty good idea to keep the property in my name and then set up an LLC to handle leases, maintenance and anything else that comes up. How do you guys hold title on just a few investment properties?