General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
Can I make this work ? 55+ and LLC
Whats going on Bigger Pockets and friends. I have a interesting question.
I'm looking to buy a mobile in a 55+ community. Management says I can have my father 58, sign for the purchase.
I would be technically buying it and paying my father. Management says as long as someone is 55+ living on the property than I can rent it out to another tenant after screening and app.
Now I'm planning on starting an LLC and placing that property/mobile under my LLC - but my question is
How do I place that mobile under my LLC if it's in my dads name? So I'm protected after the new tenant moves in?
Would I use a land trust or estate trust, or can i have my name on that mobile as well so i can transfer the mobile under my LLC?
I'll also ask the manager before I buy, but i figured it's a good question before I go to corporate direct lol
Thanks!