Should I use LLC right away to get started in my situation?

[Leandro Bidal]

So I am fairly new on bigger pockets as well as becoming a landlord. I have some experience in real estate and I've flipped a couple of homes therefore I have a significant amount of money to be a cash buyer. At this point in my life I'd like to get passive income and my goal is to start a rental property portfolio with the BRRR strategy and I plan to own about 8 properties at least by the end of next year. I plan on buying cash first From wholesalers with instant equity But to do so would it make more sense to go ahead and just refinance straight into the LLC to protect my capital? Or is there a better way to do it for the first few houses since I know I'd be jumping straight into commercial lending by doing that which would be more expensive than a residential one? Your advice would be greatly appreciated!

[Spencer Gray]

Hey Leandro - welcome to BP!

I would first suggest searching the forums to similar questions as this is probably one of the most asked questions on BP. For countless examples of other situations (similar to yours) use the search bar. I searched "Should I get an LLC" and 200 pages of links popped up. https://www.biggerpockets.com/...

If you are going to buy 8 properties then you are going to need an attorney and CPA on your team and to be frank, they are the only ones that can give you proper advice. Educate yourself by reading through the forms so you have a good idea of what you want to achieve and your options then bring it to your professional team members to solidify a plan of action and structure for your business.