Necessity to Transfer Properties to an LLC?

[AJ Satcher]

I have two properties that are currently not in an LLC. One is a SFH and the other is a house hack I'm living in. Is it okay that I create an LLC and manage the revenue and expenses for these properties through the LLC? Or do the properties have to be transferred into the LLC first for me to do so?

There are a lot of tax write offs I feel like I'm missing out on by not operating through an LLC and having a separate business account.

Thank you

[Chris Seveney]

Quote from @AJ Satcher:

I have two properties that are currently not in an LLC. One is a SFH and the other is a house hack I'm living in. Is it okay that I create an LLC and manage the revenue and expenses for these properties through the LLC? Or do the properties have to be transferred into the LLC first for me to do so?

There are a lot of tax write offs I feel like I'm missing out on by not operating through an LLC and having a separate business account.

Thank you

you are not missing tax writeoffs on running it through a LLC, a LLC is a pass thru entity. The LLC will only add costs and on most single families provides no added benefit. Some will claim asset protection but if the mortgage is in your name or you self manage the asset then piercing it is as easy as piercing your ear.