Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

4
Posts
0
Votes
Tisha J.
  • Birmingham, AL
0
Votes |
4
Posts

How should my LLC acquire existing properties NOT owned by me

Tisha J.
  • Birmingham, AL
Posted

My fiancé has a few properties that he owns outright (no mortgage/liens... etc) and we want the properties to be owned by my newly formed LLC (single-member with me as 100% owner). What is the best way to accomplish this and still have the ability to benefit in terms of depreciation and expenses)?The properties need a few repairs and updates and we want to be able to write these expenses off. After the properties are "Rehabbed"... One of the properties will be fixed and flipped and the other two will be rental properties. Should he do some sort of Quit Claim or Warranty Deed or should he "Sell" the properties to the business and go through a closing or something entirely different? Thanks in advance!!

Loading replies...