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Updated about 1 year ago on . Most recent reply

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Vitor Rodrigues
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Put rental properties into LLC when moving abroad?

Vitor Rodrigues
Posted

Our family is moving abroad for a few years, and I'm questioning whether it would make sense, and what would be the benefits, of putting our rental properties in an LLC. It's 2 properties, single family homes, in the SF Bay Area.

Sharing some details that might help inform the decision, let me know if anything else would be relevant.

One property fully paid off, generates between $20-30k in profit after expenses (property taxes, hoa, insurance, etc).

The other property is our current primary residency and would operate at a loss of about $10k/year.

I plan to travel back to the US at least once a year, could that be a deductible expense with an LLC?

I'll continue to have a salary abroad, and will need to file taxes in 2 countries. Does having an LLC simplify any of that vs doing it as part of my personal return?

What else should I be taking into account when making this decision?

We plan to move back into the primary residence in 3-5 years. Maybe sell the other one at some point, but we're ok punting on those decisions for now. 

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