Updated over 6 years ago on . Most recent reply
L.L.C. owned property disqualifying first -time home owner?
My partner and I are deciding on whether or not to team up and start an LLC to purchase property together. I already own several SFH, while he does not. He asked a question that really stumped me. First off, we both rent small apartments. If our property is owned through an LLC would that disqualify him from the advantages of a first time home buyer when he purchases his own personal residence in the future? If it does disqualify him, he was not worried, but I just thought it was an interesting question to ask!