Updated almost 6 years ago on . Most recent reply
Why or why not: Personal home LLC
Hello all!
New to real estate investing. Looking to turn my primary residence into a rental property and purchase a new primary residence for my family.
For the new primary residence, I've read conflicting recommendations. One is to turn the new primary residence over to the LLC and then rent from the LLC. Others are to keep my primary resident separate.
To purchase the new residence, I’ll likely need to pull equity out of my existing home for the down payment.
What are your thoughts and recommendations?
Most Popular Reply
You'll lose your homestead exemption, which could be huge, or next to nothing depending on where you live.