What's the best path to take?

2 Replies

Hello everyone. I have been doing research into real estate investing in my area and have came to the conclusion I want to give it a try. And I'm looking for advice on what way to start is the best option. Would it be a better to form a LLC and get all the paperwork for a true business In order before trying to purchase a property or should I try to purchase a property as my self then sell it to the business after the fact? Also is it easier to purchase rental properties as an LLC or as a person? Thanks for the advice

Michael Evers

@Michael Evers - Welcome and congrats on your decision. The property you invest in and the price you get it at is more critical than the entity you buy it in. You will find hundreds of posts and articles about this topic here on BP, so I won't rehash it. Long story short -I would concentrate on what your criteria will be and finding the right property before I would worry about entities. If you are getting financing, you will most likely need to borrow in your personal name anyway. (Your new LLC will have no income history to show a lender). Properties can be transferred later. My 2cents. Happy investing!

Thank you. That's what I figired would have to happen first.

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