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Updated almost 11 years ago, 02/05/2014

User Stats

7
Posts
1
Votes
Christopher Gardino
  • Lowell, MA
1
Votes |
7
Posts

A few questions in regards to a LLC and a real estate business

Christopher Gardino
  • Lowell, MA
Posted

I have read that in using a LLC, one can create personal protection against a real estate property in the case of lawsuit. Is this true in regards to a primary residence and should I be looking to purchase my first property under a LLC or under my own name?(My first property will hopefully be a duplex in which I live in one unit and rent the other)

My second question is in regards to starting a business for real estate. Is it possible to start a real estate business in my primary residence for the property I will be moving in to? I read the great tax benefits for deducting business expenses and am curious as to whether investing in a property and renting it could be considered a business. In so would it could be eligible for these deductions?

Thanks,

Chris

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