Buying a house in my name vs starting an LLC

[Shonari Wynter]

Hello BP,

I have been actively trying to find my first property for buy and hold. However, there are so many things that can go wrong and that makes me wonder if I should get a LLC before doing any kind of REI or should I just go ahead and get that first property under my belt and get my LLC along the way?

I have not found my first property despite being on realtor.com, zillow etc. all day every day, so i am about to start doing yellow letter direct mail, and that's when I began thinking i might need an LLC before I start doing that. Any advice is appreciated.

[Kevin Powell]

Originally posted by @Scott Passman:

@Shonari Wynter While you can choose to form an LLC before purchasing your first property, you certainly don't need to. Just make sure you speak with an insurance agent and get a good insurance policy on the property and you should be covered. While you are correct that anything can happen, the odds of someone coming after you with a single property that is likely highly leveraged at the beginning is slim. You can always transfer the property into an LLC at a later time. Don't let this question hold you back from taking action. Lots of people come up with repeated concerns that prevent them from pulling the trigger. Keep looking for a deal and when you find one go for it.

Good stuff bro