Turning Home into LLC

[Daniel Mutek]

If I can turn my current home into a LLC what are the pros and cons, and can i use a conventional loan again since I'm no longer the primary. I want to buy a new home and rent this one out is my aim.

[Chris Seveney]

Quote from @Daniel Mutek:

If I can turn my current home into a LLC what are the pros and cons, and can i use a conventional loan again since I'm no longer the primary. I want to buy a new home and rent this one out is my aim.

The only thing turning a home from your name into a LLC does is cost you more money. You have LLC fees, additional tax filings to have it be a pass through entity and all for what? Someone telling you that you need asset protection, but cannot tell you in what instance you could possibly be sued for that insurance would not cover you.