All Forum Posts by: Fetch Phoenix

Thanks folks, it seems like overall it doesn't make the most sense to start an LLC for real estate purposes due the cost and complexity, with few benefits here in California. That instead solid insurance should be just fine.

Appreciate the feedback! 

I just wanted to give a quick thank you to all that have responded. I'm going through them each with consideration. 

Thank you!

Hello folks, I'm new to the forums and thank you in advance for your thoughts. My spouse and I purchased a home in Nov 2023 (that we will move into in about 1.5 years), that has an additional 2 bedroom apartment and 1 bedroom studio on the property. We are renting all 3 units currently, while living in another home that we co-own with a friend. It's in the Grass Valley area, CA, about an hour north of Sacramento. 

We have been considering opening a Real Estate LLC to support with this and possible future investment interests. The questions I have so far:

1. If we opened the LLC, would/could we transfer the ownership of the property to the LLC?

2. What would be the logistics of that if so?

3. Are there notable pros/cons to getting the property under an LLC compared to regular homeownership (us)

4. What else should we be taking into consideration here if anything?

Thank you!