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Updated about 5 years ago,

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Line Of Credit for rental income properties in state of Florida

Posted

We have two homes presently. One is a rental already where we received a years rent upfront. We have fabulous tenants in that property which we screened using cozy.co. Our home in New York has a partial rental income of 900.00 a month. My husband still travels back and forth to Florida and uses that house while he's on Long Island. We have a place in St. Pete that I currently live in full time where there is no mortgage. We are wondering if we should transfer the New York residence or incorporate it into our LLC that we have for the Florida rental property so that we can receive a larger line of credit to use as properties become available for purchase. We both also will be getting our real estate licenses in the next month. Thank you for any advice/suggestions.