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Updated almost 6 years ago,
Naming a LLC before buying properties
A friend of mine and potential business partner is interested in going 50/50 on a first property this summer (likely a SFR that would be a buy and hold/rental). We are both complete newbies to this space, and while I am soaking up all the information I can find (having read and am now trying to apply the information from The Book on Rental Property Investing), my potential partner is more worried about naming a LLC/company.
For those who are further along than us, at what point (if any) did you decide on a name/entity to put your rental properties in? Am I wrong to think we shouldn't be worrying about this so early on? My thought was let's buy a place first then settle on a name before we bring it to market. His thought is buy it in the name of the LLC, as he does not want it to ever be tied to our personal names.
Any advice/suggestions welcome.