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Updated over 11 years ago on . Most recent reply

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9
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1
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Eddy Martinez
  • philadelphia, PA
1
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9
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your suggestion

Eddy Martinez
  • philadelphia, PA
Posted

im about to purchase my first investment property and i was wondering whether i should keep it in my name or if i should start an llc. and what are the benefits to having it in an llc rather then owning it in my name. thanks for your help in advance

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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Are you planning on financing it with a 30 year fixed rate loan? Then you will have to hold it in your name. It you're paying cash, then the usual suggestion is to hold it in an LLC. If you have significant assets, you need to spend some time and money discussing asset protection with an attorney.

I'd also suggest using titles for your posts that somehow relate to your question.

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