How to Buy and Own a Property

[Irv Rollman]

So, what’s the best way to own a property as an investor/ landlord? I’m assuming some sort of LLC or similar. Is LLC the proper vehicle? Do I buy and quit claim to the LLC, or does the LLC need to buy it? Any other thoughts? Property location would be New Mexico, likely Albuquerque or vicinity.

[Jason D.]

You don't need an LLC. It will make financing more expensive and unless you have a lot of net worth, isn't really protecting anything. I formed an LLC to purchase my first property, but would not do it again if I knew what I know now.