LLC or purchase as individual with spouse for first property

[Louis Louisius]

Hi, I'm looking to purchase my first property with my spouse. I'm not sure which option would be best. Do we start an LLC to get the loan or do we just apply for it as individuals like a regular mortgage loan. this will be for a vacation home that we will utilize as an STR in Tennessee.

just want to know which is best option for us. LLC or no LLC

[Michael Diossa]

Short answer Yes. I suggest that you consult with a licensed attorney or financial advisor who is knowledgeable about Tennessee real estate laws and regulations. However in some states, there are some home buyer assistance programs that are amazing and help with down payments but not for an LLC. I would say LLC. Here is more information for Pros and cons https://www.bankrate.com/real-...