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Updated about 4 years ago,

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5
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5
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Lev Platsman
5
Votes |
5
Posts

personal vs corp for lending.

Lev Platsman
Posted

So I am totally new to this. Have not bought anything. But aggressively looking for a rental property as an investment. I live in new york and are looking in other markets. 

So the decision I need to make right now is do I buy under my personal name or form a corporation or an LLC and buy that way. By buy I mean mortage.

I just got off a call with my accountant who advised my to NOT buy under my personal. He said the tax benefits is much better under a corp or LLC. He also advised me that I may not be able to utilize a lot of the tax advantages because of my high income.

Any one have any advise? I understand the rates are better under personal and the amount of down is less. 

Can I transfer the mortgage or the property onto an LLC after I purchase it on my personal?


HELP.

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