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Updated over 4 years ago,
Running rent through an my LLC even if property is personal
Hey BP! I heard on a podcast about how ppl run there income rent through an LLC even though the property is under a personal name. So my question is can I do this? Can I have my tenants pay there rent to my LLC and then I can pay myself?
You may ask why you want to do this? My reason is to show money running through an LLC so in two years if I want to buy a property with the LLC then the business will have "history". And that would make my LLC "bankable".
I am just planning for the future as I still have plenty of personal loans left t my name but want to keep this options open in the future.
SO, what am I missing BP? legal issues? insurance or money issues? All advice and comments are VERY HELPFUL, thanks guys!