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Opinion on gameplan
I am a long-term investor who lives overseas in Australia but will be moving to PA (maybe around Clarion, or Indiana, PA or somewhere between). I have read a lot about the differences there so can someone look over my gameplan to see if this would be good or how to improve. New to buying properties there.
1) We need a place to live for 1st year, so we buy a duplex in cash using an LLC to own it. (We would use cash as we can't get a loan from over here, even though I am a US veteran.) We would live in one half, rent the other and move out within a year once we find a better place to call home and then have both sides rented.
2) We buy a home in our own names, not in LLC, with cash.
3) Once we get jobs we can buy more duplexes in a different LLC, hopefully with a loan using equity from perhaps the other properties?
Does that sound right? So a different LLC for each new property and our residence in our own names? Doing the LLC for asset protection and strategy is just long term hold.
Thanks in advance,
Scott