Over the past 2 years I've been actively purchasing rental property. I've have now acquired 14 properties with a total of 25 units and plan to keep going! This year I've also started to rehab and flip properties. I'm currently closing my first business to pursue real estate full time. With that being said all the property I currently own are under my personal name and lacking structure. I need to turn this into a legitimate business so I can take full advantage of what is in front of me and also take the liability off of myself. I need to structure this so I can tap into my equity so I can use it to finance my flips and continue purchasing! Im ready to turn this into a legitimate business and I need to know what is the best way for me to structure it. The majority of my property I do still owe on but all have significant amounts of equity. What is the best way to tap into it?
LLC or ??
Refinancing under the company?
Multiple or one business?
Any advice will be helpful!
Commercial Loan to refinance out those properties under LLC name.
Welcome to BP!
You can certainly get some valuable general info from the forums, but with your portfolio size, it's highly recommended to consult with your attorney for specific asset protection and your CPA for specific tax strategies.
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