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Updated 9 months ago on . Most recent reply

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Zechariah Troth
  • Homeowner
  • Prattsburgh, NY
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Questions from a Novice

Zechariah Troth
  • Homeowner
  • Prattsburgh, NY
Posted

I would like to buy my first rental property in a few months and am doing some research in order to be as successful as possible. With that being said, I have some questions. 

First, should I create an LLC and purchase the property through that? Or just purchase it in my name? Has anyone done this or not done this, and for what reasons?

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

This is a question you should look up. It's one of the most asked on BiggerPockets. To make it easy, you can't buy in an LLC unless that LLC has two years of tax returns or if you are buying in cash. It's also not necessary for a single rental property.

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