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Updated about 4 years ago,

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!

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