First time Landlord looking to purchase more properties

[Arun Philip]

Hi Everyone,

Glad to be apart of the BP community! I purchased my first SFH a few months ago and have a tenant coming in soon. I was looking to purchase multi family housing but it my area where I live, there's other SFH or townhomes that come on market that I think would be a good opportunity to fix up and rent out. Spoke to my lawyer who advised that moving forward I should open an LLC to purchase my properties and so I did. But now that I think about it, would it better that I purchase a few properties under my own name to take advantage of conventional lending or just keep putting more properties under the LLC? I'm aware that if I don't do the LLC along with legal protection I'm missing opportunity to build business funding but wondering if it's better to take chance to buy the properties with a lower conventional down payment instead and maybe get more skin in the game than go the commerical funding route?

Appreciate any feedback!

[Ned J.]

Small single owner LLC's are easily pierced when it comes to liability....don't get fooled into thinking it going to protect you much. Unless you follow all the rules to a "T", a decent lawyer will pierce that in the blink of an eye. Make sure you have plenty of liability insurance.