LLC or under your own name?

[Joel Matos]

Hello BP world! I'm a newbie to real estate investing but not to investing in general. A little about myself, I'm a finance major and currently working for a bank as an investment associate/financial specialist. I bought my first investment property last year and am trying
To reap all its benefits including, but not limited to, depreciation of the property, rental income, tax deductions, etc,. What do most of you seasoned "buy and holders" believe is best in order to reap the most out of my rental property? an LLC or just keeping the property under my own name? Any advise/comments would be appreciated!

[Bienes Raices]

Originally posted by Joel Matos:

Hello BP world! I'm a newbie to real estate investing but not to investing in general. A little about myself, I'm a finance major and currently working for a bank as an investment associate/financial specialist. I bought my first investment property last year and am trying
To reap all its benefits including, but not limited to, depreciation of the property, rental income, tax deductions, etc,. What do most of you seasoned "buy and holders" believe is best in order to reap the most out of my rental property? an LLC or just keeping the property under my own name? Any advise/comments would be appreciated!

Personally, I were buying multi-family properties, I would go with the LLC. I would feel uneasy owning a lot of units in my own name. As for tax benefits, an LLC doesn't really provide that--if it's a single member LLC it's treated as a pass-through entity and just treated as ordinary income (minus the improvement/repair deductions and additions to basis you can take for rental property). I'm not sure if there's a tax benefit for a multi-member LLC.