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Updated almost 5 years ago on . Most recent reply
LLC for a multi family
I have a few questions with regards to an LLC and it's applicability to owning a 4 unit multi family unit.
In short, I am curious as to what the advantages and disadvantages are and if an LLC is necessary.
Additionally, I am curious as to if I place the home under my current LLC what are the advantages and disadvantages?
P.S. I am in DC and the market here is ridiculous. I just got beat out yesterday... but at least I made my first offer. I am welcome to any excel sheets you think may help with analyzing the numbers to determine if it is a good deal or not. (First-time home buyer).
Thank you for your responses in advance
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#5 Multi-Family and Apartment Investing Contributor
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- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Jesse S. all the points made above are valid and explore them for sure..............a couple of practical considerations. If you need a loan for that MF you are looking at the qualification process will be more arduous at this time, and the money will cost you more. Whatever path you choose make sure you have sufficient liability insurance to cover you in case of a lawsuit or accident. All the best!