LLC info personal residence

1 Reply

Ok so my wife and I decided we are going for our personal residence before investing in real estate. So should I get my personal residence through an LLC knowing I'm going to be investing soon. Or do I just get it in my name and worry about transferring it into an LLC later with the risk of the due on sale clause?

@Adam J Goodsite

First, it's very ill advised to have your primary residence in a LLC

Transferring property from yourself to a LLC, while hotly contested on bp, i think is a poor practice in my layman's opinion. It shows to me that you aren't running the LLC as a separate business and it's an alter ego thus piercing your corporate veil. Besides the due in sale clause, you have a number of other issues you need to double check

...I’ll get off my soapbox now. Good luck