Buying a Townhouse, should I put in LLC or....

Buying a Townhouse, should I put in LLC or....

SC · Member since 2015 · 35 posts · 13 votes

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?

thanks 

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  • 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.!

  • SC · Member since 2015 · 35 posts · 13 votes
    11y

    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?

    thanks in advance

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