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Updated almost 7 years ago on . Most recent reply

User Stats

57
Posts
53
Votes
Ryan Mahoney
  • Rental Property Investor
  • Hastings, NE
53
Votes |
57
Posts

First time investor - Loan/Home in LLC's name or my name?

Ryan Mahoney
  • Rental Property Investor
  • Hastings, NE
Posted

I am just looking to get started. I have read a good deal and many sources say to hold property in the name of an LCC. When I have spoken with lenders they say I can not do that. Perhaps it is because I am new or perhaps it is because the LLC I have not created yet has no financial history. My questions are these:

Should I just buy a property in my name and self-manage it under my name?  

Should I explore getting a mortgage in the name of an LCC - perhaps I just have not spoken to enough lenders.  I have the capital to easily put 20-25% down on the properties I have been looking at.  I do not have the money to buy 100% cash so I will need some financing.  

If I own the property in my name should I create an LLC to manage the property?

My goal is to buy and hold several properties over the next few years.  Ideally I would like to get to 10 smaller single family homes in the next 5 years.  Obviously, time and experience could modify this.   

  • Ryan Mahoney
  • Loading replies...