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Updated over 4 years ago on . Most recent reply

Enrique P.'s profile image
Enrique P.'s profile image
Enrique P.
  • from San Francisco, CA
  • Member since Oct 16, 2017
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Enrique P.'s profile image
Enrique P.'s profile image
Enrique P.
  • from San Francisco, CA
  • Member since Oct 16, 2017
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Enrique P.
  • San Francisco, CA
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Tax, SDIRAs & Cost Segregation

Can you create an LLC for a multi-family house-hack?

Enrique P.
  • San Francisco, CA
Posted

The title says it all. Researching before trying my first house hack in NJ. Can you (or should you) start an LLC for your house-hack? Is it complicated by the fact that you're living in it?

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Mike McCarthy's profile image
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Mike McCarthy
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  • from Philadelphia, Pennsylvania
  • Member since Aug 16, 2016
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Mike McCarthy
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  • from Philadelphia, Pennsylvania
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Mike McCarthy
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  • Philadelphia, PA
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Mike McCarthy
  • Investor
  • Philadelphia, PA
Replied

What most people try to get out of an LLC is liability protection. For the first few properties most investors buy (1-4 unit properties at least), it's not worthwhile. Decent landlord insurance, keeping the property in good repair, and possibly an umbrella policy is all you need.

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