Purchasing my first property using an LLC.

[John Trujillo]

1. ok I am planing my first purchase investment property in Colorado as an LLC. How does that process work? Is it like buying as an individual? Any help is appreciated.

[Frank Chin]

If you follow the discussions on this site, the challenge is not setting up the LLC, but the challenges in getting a mortgage and insurance in an LLC, particularly a brand new one at that. You'll also need a good attorney for your closing.

I invested for many years in real estate and have yet use an LLC. Getting a mortgage and insurance is definitely not the same as an individual, I would say much more difficultt.