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Updated over 4 years ago on . Most recent reply

Julie Cosgrove's profile image
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Julie Cosgrove
  • Real Estate Broker
  • from San Joaquin county
  • Member since Apr 4, 2020
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Julie Cosgrove's profile image
Julie Cosgrove's profile image
Julie Cosgrove
  • Real Estate Broker
  • from San Joaquin county
  • Member since Apr 4, 2020
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Julie Cosgrove
  • Real Estate Broker
  • San Joaquin county
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General Real Estate Investing

LLC, who has set one up and why

Julie Cosgrove
  • Real Estate Broker
  • San Joaquin county
Posted

Can those of you who have set up an LLC please tell me the pros and cons of getting one? Do you purchase your properties in the LLC? I saw a post a couple of days ago about not being able to get a loan with an LLC it must be a person. Please share your thoughts

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Charles Carillo
  • Rental Property Investor
  • from North Palm Beach, FL
  • Member since Apr 8, 2018
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Charles Carillo
  • Rental Property Investor
  • from North Palm Beach, FL
  • Member since Apr 8, 2018
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
Replied

@Julie Cosgrove

The benefits with using a LLC is asset protection. The problem arises with lending when you are trying to purchase and finance certain residential 1-4 unit properties. When you start getting 5+ units, LLCs are normal and lenders have no problem with them since every property is an investment property.

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