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All Forum Posts by: Lawrence Edem

Lawrence Edem has started 1 posts and replied 2 times.

New Member Introductions

Post: Newbie House Hacking, two questions no one ever asks.

Lawrence EdemPosted
  • Specialist
  • Cleveland, OH
  • Posts 2
  • Votes 1
@Manuel Olguin Thanks I’m excited to see what others experiences are
0 Votes
New Member Introductions

Post: Newbie House Hacking, two questions no one ever asks.

Lawrence EdemPosted
  • Specialist
  • Cleveland, OH
  • Posts 2
  • Votes 1

New to house hacking, just got my first property and it is a duplex. I have two questions i feel as though no one every properly address.

1) When you rent out the second unit in your duplex, is it best to collect the rent checks in your name, or set up an LLC and collect rent checks/payments in the LLC ?

2) if you collect rent in your name, does this affect your overall income, when it is time to file taxes ?

1 Vote