Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

38
Posts
12
Votes
Jesus Sosa
  • Rental Property Investor
  • Anderson, SC
12
Votes |
38
Posts

Form an LLC for your first BRRRR property?

Jesus Sosa
  • Rental Property Investor
  • Anderson, SC
Posted

Currently, under the process of a quiet title of a SFH here in the state of South Carolina. I know it will need a lot of work to get it rent-ready and later cash-out refinance it. My concern is, whether or not to form an LLC for the tax write-offs since the cost of rehab will be significant. Or, on the other hand, should rehab be paid cash only on the first investment property?

Note: Plan to hire contractors that can provide proof of insurance, W9, and business license to properly file those expenses. The quiet title action would possibly take a month 1/2 to get completed. 

Thanks in advance!

Most Popular Reply

User Stats

462
Posts
365
Votes
Jon Reed
  • Rental Property Investor
  • Springfield, MO
365
Votes |
462
Posts
Jon Reed
  • Rental Property Investor
  • Springfield, MO
Replied

I would always say do it all through an LLC for the protection it provides, separation between your business and personal credit, and tax advantages.

Loading replies...