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Updated over 5 years ago on . Most recent reply

User Stats

36
Posts
11
Votes
Kyle Root
  • Rental Property Investor
  • Appleton, Wi
11
Votes |
36
Posts

Buying 8 unit apartment. Is an LLC the best way?

Kyle Root
  • Rental Property Investor
  • Appleton, Wi
Posted

I have been researching this apartment bldg the last couple of months and I am looking for some incite from other 5+ unit investors. I went heavy on expenses and light on revenue and the COC return is 23%, so I want to chase this but I have a few dilemmas. The biggest dilemma is that my capital is around $15k, I just purchased a single family home about 2 months ago to BRRRR and that is all i will really have left to go re-invest into another asset. So here are a few questions I have for my fellow investors.

1. How much do I need down if I start an LLC for the property?

2. What are some options that I have where I can delay or minimize/defer payment for a few months but still own the property if I put it under an LLC?

3. Is getting an LLC the best option here? If not, what may be some other ones?

4. I know I can find investors and I am not sure if this is the wrong mentality to have, but I selfishly want this property solely in my name. Is there other options other then looking for investors? 

5. What are some things that you guys have ran into that you would of done differently when starting an LLC and going into apartment bldgs?

Thanks to everyone in advance.

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