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Updated almost 7 years ago,
How should i buy a rental? thru my company, personally,or new LLC
So I am brand new to real estate investing. I am currently looking for some deals and crunching my numbers. I am from Alberta, Canada. Some rules and conditions differ between the United States and Canada. I am currently self employed and pay myself an average wage from my company earnings. The company also makes a small profit.
My Question is : How should I purchase my first home ? Should it be personally bought? Or through my company?
I would prefer to not pull anymore income from my company because then I will have to pay more taxes. If the money is left in the company and it purchases the property then it may be wiser than losing money to taxes.
Has anyone ever dealt with this before? I have a friend that has set up an entirely different company to purchase and hold the homes in conjunction with his existing company.
Any help would be greatly appreciated. Thanks in Advance for your time.