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Updated over 11 years ago,
Advice on buying a property with my LLC to flip
Hi BP nation.
I am set to purchase a property to flip. I will be getting purchase funds from an investor and will pay for rehab and remodel costs from my personal cash. So it will be a cash purchase. My question is on the pros and cons of buying the property in my name or the name of my LLC. I could deposit the initial purchase money from the investor into the LLC bank account and have that account write the check for the purchase at close. I have a credit card with Menards tbat is in the LLC's name as well which I could purchase a lot of the materials. Would I have to funnel all labor costs and purchases from the locations through the LLC bank account as well. Also what other things do I need to keep in mind. I'm not sure if it would be worth the hassel to purchase through the LLC or not. Looking for thoughts, advice and comments..
Thanks Kyle Hipp