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Updated over 8 years ago on . Most recent reply

Gilbreth Seno's profile image
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Gilbreth Seno
  • from Annapolis, Maryland
  • Member since Sep 12, 2016
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Gilbreth Seno's profile image
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Gilbreth Seno
  • from Annapolis, Maryland
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Gilbreth Seno
  • Annapolis, MD
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Rehabbing & House Flipping

I'm a newbie investor. Should I start an LLC first?

Gilbreth Seno
  • Annapolis, MD
Posted

Hello all. I'm a newbie investor looking to make my first flip. Should I start an LLC first and put the house under it?

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Steve Vaughan
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  • from East Wenatchee, WA
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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
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  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

@Ben Wendt - the only lenders that will like an LLC for a residential property are hard money lenders.

Banks will flinch and give you commercial rates and terms only, if anything. "Most lenders require you to have an LLC" is completely inaccurate in the residential space.

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