All Forum Posts by: Peter B.

 Thanks!

Hi all,

I purchased my first property a little over a year ago. I've been living in it, and plan to purchase my next property soon to continue with house hacking. Once I find my next place, I'd like to put my current property up for rent. 

Just some high level questions:

• Should I create some sort of legal structure before I start renting? i.e. LLC, S-corp. Is this something that I should be able to tackle on my own, or do I need to hire a lawyer/CPA to help?
• From the financing side of things... I got a conventional mortgage for my first property. If I should be setting up a legal structure, would I have to transfer that mortgage into the legal entity? 

I'll be looking for a lawyer/CPA to help me out with this, but I wanted to get the high level answers down first.

Thanks!

Pete

Hello all,

I'm finally getting into real estate investing after being on the outside looking in for quite some time. I just finished the 'Free Course' here at BiggerPockets and really enjoyed it. I'm going to be reading through a few of the eBooks as well. I'm a young investor and want to create financial freedom for myself and family. I'm no stranger to hard work and see RE as an opportunity to take control my investments (versus stock market).

I bought my first property last year and have been living in that. I'm looking to begin investing in other properties now. I plan to join ACREPgh to start networking with other investors. Any advice is greatly appreciated!

-Pete