Property under LLC or my name?

[Andrea Campo]

Hi everyone,

Last year, I created an LLC, but I haven't purchased any properties yet.

I would like to buy a property close to where we live, in which my wife's parents will live for some years. After that, I would like to rent it out.

With that said, should I buy it under my name and then transfer it to the LLC when the time comes to rent it out, or should I buy it with the LLC immediately?

And, if I buy it with the LLC immediately, do my in-laws need to have a rental contract or can they just live in it?

Thank you for your help,

Andrea

[John Underwood]

You don't need an LLC for one mortgaged property.

Make sure to have correct insurance and maintain property.