Should my LLC own my personal home?
My wife and I owe nothing on our home and her hair salon next to our house, would it be smart to have those properties underneath our LLC or should I leave it under our own names? We are refinancing those properties to start our real estate investment journey.
I'm wondering about tax implications or potential legal issues or anything like that.
I like the idea that I could say my LLC owns two properties right from the start but if there would be problems that wouldn't be worth it then I need to know that.
Most Popular Reply
I would not put your own home in the same LLC as other businesses or investment properties. Main reason to do an LLC in the first place is to limit your liability if something were to go wrong and you get sued.