I'm buying a REO townhouse (live in flip, no mortgage) which later I might use to get a equity loan or HELOC to fund another flip. Should I put the townhouse in a LLC or will that cause issues if i decide on doing the home equity down the road?
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
11y
I don't see why to do an LLC with a live-in flip. Just harder to insure and refinance in an LLC. I would keep it simple and not over-sophisticate things @Mike F.!
I was thinking the LLC would help establish my business for a future LOC with the banks also the the obvious liability protection would be nice. Anyone else have anything to add to the discussion?