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Updated almost 7 years ago,

User Stats

37
Posts
24
Votes
Ben Narro
  • San Antonio , TX
24
Votes |
37
Posts

Should I transfer my homes to an LLC

Ben Narro
  • San Antonio , TX
Posted
I own 4 homes with mortgages, 2 are through the VA and 2 are conventional loans. I have over 30% LTV in all 4 homes. My question is should I transfer the homes over to my LLC? I know the down side would be losing out on capital gains saving, since my LLC will not be able to claim it. If I want to sell the home later, can I not just transfer the home back into my name and do a 1031 exchange? Or can I not just live in it for 2 years to take advantage of capital gains after I transfer it back in my name? Also if I put my primary residence under my LLC, I get that I lose out on homestead but all my home repairs are not tax write offs, correct?

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