Personal loan vs. LLC

[Lynn Anthony]

After listening to Brandon Turners podcast about LLCs, what are all your thoughts for a newbie investor getting ready to buy a SFH? Would you just get a personal loan with an umbrella policy, if so how much of a policy would you start out with? If LLC, can you even get a commercial loan with a SFH?

[Jared Baker]

If your just starting out and you don't have much, buying a property under your name is the way most people go. My first property is under my name and the policy is specific for a rental, so I still carry a separate policy for my personal possessions. I am planning on buying several more properties which I will be putting under and LLC and sorting out the insurance afterwards. Biggest thing I've learned is to just start somewhere. I was in the same boat looking at my first triplex, not sure if I should do the LLC or just do it under my name. But after going through the process and experiencing it you gain so much info that will help you figure out what you need to do next.