Bought my first property!!

[Shivam Patel]

Hey guys! Just wanted to thank all you guys. Listening to bigger pockets for years, looking at the forums with people constantly motivating you, I've finally got out of analysis paralysis and finally got a house under attorney review, today! Had some obstacles where the lender estimated 2000$ less in taxes at my max preapproval that I used where the options were to putting more down or getting a cosigner. I just my dad as a cosigner. So it worked out and now under attorney review. She wouldn't budge on using roomate income to change the debt/income ratio haha. She said she would gave to give me a higher interest rate because it falls under investment. I used cosigner as the option instead.

Only thing I got to worry about is how I'm going structure this house hacking investment. I know a lot of people put it under an LLC. But I dont want to risk the due on sale clause to trigger. Even if it's just there, I don't want the risk, or do anything illegal. Instead of putting the asset in the LLC can I just set it up in a way where I dont put the asset in but the income of the tenants are paying the LLC, that way it doesnt trigger due on sale clause? Any advice would be appreciated. Also I heard an attorney is not actually needed. It costs 2500$ but I'm on a tight budget until closing and dont want to pay so much. Especially since I dont have tenants in yet. I plan on house hacking 2 roomates in while i attend my school.