Buying using DBA or my own name?

Question

I am in the process of buying my first investment property. Do I buy it with my real name or with DBA? Which one is less of a tax hassle?
Thanks.

Scott H. · Answer

Bump this back up...

Thanks for any insight.

Scott H. · Answer

Sorry to dig up old thread.

I don't think the user got his question answered (which is also my question).

At this juncture, I've decided not to form an LLC for a rental property (the merits don't need to be discussed here) and simply move forward with a sufficient umbrella.  However, I'm interested in setting up an Assumed Business Name (DBA for most) to create a cloak (however thin) of anonymity.

Main question:

Can I put the DBA on the deed?  Do I need to put my own name as well (Real Name dba Bus. Name)?  I am purchasing for cash.

Thanks; BP is the greatest.

Eddie Ziv · Answer

I'd say, form an LLC. Easy done with Legalzoom.com Not as complicated tax-wise as Corporation (Pass-through process) and you get legal protection. 
Two drawbacks though, If you take a mortgage,you are in jeopardy of the loan being called but that is really rear and unlikely to be triggered unless you don't pay your mortgage.
Also, you will have to go through the process of transferring the property back under your name should you decide to refinance down the road.

Josh Green · Answer

now i could have a XYZ corp DBA fancy pants properties. but i think he is talking a sole prop.

also, it isn't very easy to get financing for a business loan to buy investment props right now.

G. F. · Answer

Buying using a DBA (Sole Proprietorship) is essentially the same as buying in your personal name.

Sola A. · Answer

I am planning of putting down 20% of my own money.  It is a single family home.  In regards to taxes, will I get more tax deductions if I buy the house as a business owner (hence why I stated the DBA factor) or as an investor?

Josh Green · Answer

we need more info to help. ultimately, you will want to consult ur tax advisor but we can certainly help.

are you planning on financing? if you are planning on becoming an llc or corp then you may have problems obtaining financing.

also, buying as a sole prop (joe smith dba smith property holdings) really doesn't make any difference since you are a sole prop.