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Updated about 4 years ago on . Most recent reply

Daniel O'Donnell's profile image
Daniel O'Donnell's profile image
Daniel O'Donnell
  • New to Real Estate
  • from Ohio
  • Member since Jul 21, 2020
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Daniel O'Donnell's profile image
Daniel O'Donnell's profile image
Daniel O'Donnell
  • New to Real Estate
  • from Ohio
  • Member since Jul 21, 2020
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Daniel O'Donnell
  • New to Real Estate
  • Ohio
1
Votes |
2
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Starting Out

Buying First Rental as LLC or personally?

Daniel O'Donnell
  • New to Real Estate
  • Ohio
Posted

So my main question, is it better to buy a rental personally or start an LLC and purchase it through the LLC? I have a business partner and we are trying to see what is the best way to make sure were approved by lenders. Also, if anyone is from Ohio, is Ohio friendly to LLCs? (in terms of taxes and other categories)

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Joseph Schweizer's profile image
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Joseph Schweizer
  • Investor
  • Member since Feb 7, 2020
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Joseph Schweizer's profile image
Joseph Schweizer's profile image
Joseph Schweizer
  • Investor
  • Member since Feb 7, 2020
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Joseph Schweizer
  • Investor
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Joseph Schweizer
  • Investor
Replied

HI @Brandon Sturgill!

Could you explain why not to use a quitclaim deed? I am looking at setting an LLC up in the future and trying to learn best practices before I get to that point.

  • Joseph Schweizer
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