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Updated almost 4 years ago,
Looking for advice on turning my primary home to STR in Austin
Hey y'all,
I'm wrapping up my live-in renovation of a property in South Austin. I would like to keep this property and use it as an STR. However, I would like to move out and purchase another primary residence.
I have read that selling my house to an LLC that I own would be a good move to reduce liability and my personal debt ratio. So I am thinking I'd like to have my company own the property, and I'd purchase another property under my name elsewhere.
I hope this all makes sense. Please let me know if you have advice on this or maybe a local Austin CPA to talk about this with.
Thanks,
Taylor