Updated almost 5 years ago on . Most recent reply
personal vs corp for lending.
So I am totally new to this. Have not bought anything. But aggressively looking for a rental property as an investment. I live in new york and are looking in other markets.
So the decision I need to make right now is do I buy under my personal name or form a corporation or an LLC and buy that way. By buy I mean mortage.
I just got off a call with my accountant who advised my to NOT buy under my personal. He said the tax benefits is much better under a corp or LLC. He also advised me that I may not be able to utilize a lot of the tax advantages because of my high income.
Any one have any advise? I understand the rates are better under personal and the amount of down is less.
Can I transfer the mortgage or the property onto an LLC after I purchase it on my personal?
HELP.