All Forum Posts by: David Shelby

I have just graduated college and am wanting to get into real estate. I purchased a duplex that I will be closing on at the end of this month and will be renting out one side while living in the other. As it stands right now, the duplex will be in my name. I recently set up an LLC to manage and eventually take ownership of the property as soon as possible but I am assuming my lender will not allow that without refinancing with a higher down payment/interest rate. My question is this. If I am the sole member of a disregarded LLC, can I rent out the property, accept rent payments, and pay the mortgage in the name of the LLC without getting a brokerage licenses? In this scenario both myself and the other tenant would be paying rent to the LLC and I would report any income after all monthly payments on my own personal income tax.

I know that there have been similar questions posted but most were a few years old and had a lot of different opinions on what was legal/best practice. Thanks for any advise in advance!