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Updated almost 8 years ago,

User Stats

386
Posts
151
Votes
Mike Landry
  • Investor
  • Montgomery, TX
151
Votes |
386
Posts

rental in personal name but should I LLC to flip?

Mike Landry
  • Investor
  • Montgomery, TX
Posted

I currently have 4 sfr rental in my name under an umbrella policy.  I am happy with that for now.  However, I am interested in doing an occasional flip to build up some cash.  All my rentals could have been flipped for a small profit so I have confidence I will actually flip something.  

Should I setup an LLC if I intend to flip 1 to 2 properties a year. Also, when I purchase these properties it will be from my personal money that I use to buy rentals and BRRRR. So I won't be able to park the cash in the LLC bank account and leave it there. I would essentially buy with my money but have the property titled into an llc. Is that already defeating the protections of an LLC? I want to use the same money to buy flips in an LLC and rentals in my name throughout the year.

What would you do?

Thanks!

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