House Hacking under a LLC?

[Garren Frazier]

Hello everyone I am a new investor in the Chicagoland area, and have a question about acquiring my first property. I've met with an attorney to create a LLC for a wholesaling operation, but I know that it becomes tricky to get financing under a new LLC. That being said my wife and I are going to house hack our first property and could get it with a FHA (If COVID-19 allows) if we just put the duplex in our name. In this situation would you use your LLC or not?

[Mark Ainley]

@Garren Frazier I am not offering legal advice on liability but from what I have seen over the years, don't make it more complicated then needed. Buy the house and then assess your liability from a legal standpoint with an attorney. I am sure your same attorney can offer some free advice on the topic. An LLC will add another layer of protection but will add complexity and expenses too with the state fees, annual filing, etc...