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Updated almost 8 years ago, 03/07/2017

User Stats

16
Posts
2
Votes
Ashby Tyler Cappelmann
  • Clemson, SC
2
Votes |
16
Posts

LLC questions for new investors

Ashby Tyler Cappelmann
  • Clemson, SC
Posted

Hello everyone! My wife and I are currently in the underwriting phase of a 203k loan for our first rental property which will be a duplex in the Cape May, NJ area (08204). I was wondering if anyone has any insight on whether or not we really need to form an LLC at this point and if so, does anyone have a referral? Is this something that should be done on your own or is it worth the money to pay an attorney? As I said this will be our 1st property and we're going to be house hacking. We are military and scheduled to leave the area in 2020 at which point we will be investing in the northwest South Carolina market from there out. This very well could be our only south jersey property. Having said that, can you transfer a property from a NJ LLC to a SC LLC? Any insight on this that fellow investors can provide will Ben greatly appreciated. Thank you.

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