All Forum Posts by: Carley Higareda

My husband and I want to create an LLC for our first rental property. We are trying to set up the LLC on our own online but we arent sure whether to put both of our names on it or should we just use one of us? Or does it even matter? Are there tax benefits/drawbacks to doing it one way of the other?

Thanks!

0 Votes

Greenville, South Carolina

Quote from @Jared Hottle:

Not overly easy to switch from long-term to short term. Lots of startup costs with furnishing, higher property management and need for a cleaner. Additionally, if you get bookings a few months out you will have trouble switching. Do some research, I think if it can make double as a short term rental what it could as a long term rental it is worth it. If not you really need to ask yourself if the increased risk and unknown are worth the return.

This is helpful and a great thought process. Thank you!

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Quote from @Nathan Gesner:

Quote from @Carley Higareda:

Learn how to analyze property. Research how they are expected to perform under each scenario, then crunch the numbers and see what the best option is.

Here's a guide that describes how to analyze a property.

https://www.biggerpockets.com/...

Oh this guide is very helpful! Thank you.

1 Vote

Anyone familiar with the Seneca/Clemson, SC area?

I have 2 undeveloped lots that I initially thought to put a couple of Tiny Homes on. Clemson is such a busy college town that, (I believe) it would be easy to rent Short, Mid, or Long term. I just dont know how to choose and how easy it would be to switch between them if needed.

Does anyone have any advice or tools or thought processes that I should consider to make decide which route to take?

Also, if anyone is already experienced in the area, I would love to connect! Please reach out!

Thanks for the help! :-)

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All Forum Posts by: Carley Higareda

Carley Higareda has started 2 posts and replied 4 times.

Post: Who to put on the LLC?

Post: College Town- How do I choose between STR, MTR, & LTR?

Post: College Town- How do I choose between STR, MTR, & LTR?

Post: College Town- How do I choose between STR, MTR, & LTR?