LLC or Personal Accountability

1 Reply

Goal: buy a fixer upper, flip, sell for profit (ideally).

Question: better to do this through an LLC or personal name? Pros and cons of each. I am leaning towards personal name, that way can claim "primary residence" and get away with only putting 3-5% down vs. using an LLC (cya purposes) but would have to put 25% down.


Anyone have experience with either?

Zach

If you get an FHA loan, you can put 3.5% down but you'll have to live in the property for one year, also it'll be a retail house so not much availability to value add.

for a fix and flip, I recommend finding hard or private money to pay for the asset, and put it in an LLC.

For a buy and hold an LLC is usually a waste of time