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Updated about 4 years ago,
Is it time to move rental to an LLC?
I'm pretty fresh in the real estate world, but am looking to expand over the next couple years. My first property was a condo that I lived in and rehabbed. There is a HELOC on this property that will be used for a future property. I'm now renting that out and rehabbing a single family which is my current residence. I'm looking to purchase a multi-family that needs some lipstick in the near future! I have an LLC already established for yoga business that, due to Covid and my attention being focused on RE, is pretty null and void. I'm wondering if I should put my condo under the LLC and get a credit card under that entity to begin building business credit for a future loan or continue with things as is. Thanks for the feedback!