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Updated almost 4 years ago on . Most recent reply

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Chad Benjamin Haywood
  • Rockingham
0
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7
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Do I need a LLC for my first rental purchase? #House-Hack

Chad Benjamin Haywood
  • Rockingham
Posted

My goal is to house hack a duplex no later than October of this year as my first rental property purchase. My question is, should I start an LLC before making that purchase. I am in the process of reading Brandon's books. So forgive me if this question is answered in the books. I wanted to ask everyone why it was on my mind.

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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
2,244
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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
Replied

House hack means you plan to live in the house.  Won't you be getting an owner occupant loan?  If so, it will have to be in your personal name.  You can quick claim deed it after closing if you want to.  If you plan to do that, just touch base with the attorney or title company you plan to close on the house with.

  • Patti Robertson
  • 7574722547

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