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Updated over 7 years ago,

User Stats

3
Posts
1
Votes
Todd M Eldridge
  • Atlanta, GA
1
Votes |
3
Posts

Any point in LLC for owner-fianancing my home?

Todd M Eldridge
  • Atlanta, GA
Posted

I'm planning on doing owner-finance for my current home (bought a new one, moving shortly). Its paid off, so thought this would be a good way to generate income. The HOA doesn't allow rentals, so this looks like a good way to convert the home value into more than just a sale.

Question is -- is there any point in forming an LLC and quickclaim the house to it for the purpose of selling/owner-financing? We're planning on starting real estate in earnest once we move, and figure this is "seed" home to start revenue in the LLC. Is this a waste of time? Will the history of revenue in the LLC make loans easier on future deals? Tax reasons to do it or not?

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