Updated almost 9 years ago on . Most recent reply
LLC/SCORP/CCORP or what?
Hi Folks, I really need some advice.
I have three SFH rental properties now. They generate about 1200 bucks in Cashflow (after mortgages, fallow, etc) total. I am ready to pick up a few more, and really want to start looking at this as my business. I've been told LLC for each property, and then those are owned by an Umbrella LLC or Corporation.
My question is... If I want to really start taking advantage of tax benefits, should the umbrella company be a Corporation? What happens to my existing mortgages (all under my personal name now) if I move them under a corporation?
Perhaps the biggest question I have is... Can the corporation then borrow money (think BRRRefinanceR)? Do corporations usually borrow at a higher rate? How to they get 'credit'? I might also role a Property Management company under the corporation as well. What are your
Most Popular Reply
@Account Closed - you are correct but what they do is (for a fee) will make sure you are doing it properly and offer a protection plan warranty
- Chris Seveney
