LLC to get funding for fixers

[Sam Booth]

I am being told by a few financing companies that I need an entity (like an LLC) in order get a Bridge loan of fix and flip loan. (I currently have properties in my own name with conventional mortgages). Has anyone any advice on what type of LLC to get and after the rehab I am thinking of putting the home in my own name so that any future transactions don't trigger capital gains (such as estate planning down the road). I prefer the simplicity of my own name with good insurance coverage for liability. Thoughts?

[Andrew Postell]

@Sam Booth several things to consider here:

First, there are lenders out there that will lend to a person.  If that's of importance we can talk about this further.

A single member LLC is how most of us usually start.

Creating a LLC doesn't make any difference on the Capital Gains tax...OTHER things affect this, but not JUST if the property is in a LLC or not.

And the liability thing is always "touted" with LLC formations but very few people will do all of the OTHER things it takes to provide proper shielding.  Again, JUST the LLC formation alone does not provide shielding...you have to do tons of other things as well to do it properly.  

Hope all of that makes sense.