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Updated over 2 years ago on . Most recent reply

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Shannon Vo
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Buying first rental- plan on self managing but want to separate personal and business

Shannon Vo
Posted

Title says it all but I'm wondering how you all manage your properties with a business name? I think we would have trouble moving the property into an LLC. We want to remain pretty anonymous- don't want tenants knowing I'm the owner- for simplicity sake- I would just be the manager of the property. can I have the LLC as a plain rental company? I don't have a RE license, so I couldn't do a PM LLC. Maybe I'm severely overthinking this?

Thanks for your help!

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Shannon Vo:

Welcome to the BiggerPockets forums!

You are over-thinking it. 

I don't ever advocate for lying to Tenants. If they eventually find out you are the owner, they will lose respect. Even if the property is in an LLC, you are still the owner and should be honest about that. If you want a little separation so it's easier to say no, blame your spouse or partner. If you don't have a partner, get a friend or family member to be your partner to help hold you accountable. "I'm sorry, but I'll have to talk to my partner before I can give you an answer." It's honest and it will keep you accountable to your own policies.


  • Nathan Gesner
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