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Updated about 6 years ago,

User Stats

17
Posts
4
Votes
Muneef Alfadli
  • Gainesville, VA
4
Votes |
17
Posts

investing as LLC vs individual for first rental property

Muneef Alfadli
  • Gainesville, VA
Posted

I have been in a paralysis by analysis with real estate for a long time now 3 years exactly looking at few deals and then backing out. I looked at turnkey properties then backed out. I looked at the local market which is rising prices here in the northern VA/DC metropolitan area TH,SF 450k + it is rising. my goal as a full time employee is to invest passively to have multiple stream of income to replace my day job which is IT.

here is my dilemma, I have not bought my first time primary home so the goal was to buy rentals while I am living low rent.

scenerio 1.

Buy my first primary home around northern VA since the major companies (amazon) are moving in and house hack. (rent all rooms)

or buy a small condo and rent it out after few months of living in there. 

scenerio 2.

Invest in rental properties in out of state. (how to invest as LLC vs individual) looked at turnkey rentals and had paralysis by analysis.

Scenerio 3.

Invest in state around Norlfolk/VA beach area where the property prices are less than Northern VA.

(Norada/MI,bridgeturnkey,rooftstock)

my plan was to do scenerio 2 or 3 but the rising interest rate for conventional loan vs commercial loan for residential property is what stopping me for now.  What do you suggest would be a good calculated start as I tend to overthink and delay taking action. I also looked into multifamily and syndication but that is another topic and how to begin or join most of them require a minimum of 50k to begin. But my goal is to have passive income and switch into active income once it replaces my day job.

Any recommendations will help. 

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