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Updated almost 6 years ago,
Question about rents being deposited in LLC
@Russell Brazil @James Wise @Andrew Postell @Michael Swan
I have 5 rentals, 3 in Tennessee and 2 in Ohio. I have an LLC set up in North Carolina where I live. I paid cash for the properties and then took out equity lines to fund other deals in my name and not the LLC name. All properties are professionally managed. I would prefer to keep the properties in my name for now.
My question is this, can I have the rents that the management companies collect paid directly to the LLC even if the properties are in my name? Do I still get all the tax benefits even though the properties are in my name, not the business name and in different states?
Thanks in advance