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Updated over 5 years ago on . Most recent reply

Marissa Harris's profile image
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Marissa Harris
  • Member since Oct 12, 2019
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Marissa Harris's profile image
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Marissa Harris
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Marissa Harris
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Tax, SDIRAs & Cost Segregation

First investment property, create LLC or own personally?

Marissa Harris
Posted

I'm planning on purchasing my first rental property in 2020. A single unit rental. Is it better to form an LLC and purchase the home or purchase it under my name personally?

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Michael Craven's profile image
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Michael Craven
  • Investor
  • from Springfield, OH
  • Member since Dec 3, 2017
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Michael Craven's profile image
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Michael Craven
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  • from Springfield, OH
  • Member since Dec 3, 2017
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Michael Craven
  • Investor
  • Springfield, OH
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Michael Craven
  • Investor
  • Springfield, OH
Replied

@Marissa Harris there are pros and cons to both, but I prefer owning it personally because banks will provide residential loans versus commercial loans if it is in an LLC.

Best of luck!

  • Michael Craven
  • 937-207-5010
    • 2 Votes
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