Updated about 5 years ago on . Most recent reply
LLC, who has set one up and why
Can those of you who have set up an LLC please tell me the pros and cons of getting one? Do you purchase your properties in the LLC? I saw a post a couple of days ago about not being able to get a loan with an LLC it must be a person. Please share your thoughts
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The benefits with using a LLC is asset protection. The problem arises with lending when you are trying to purchase and finance certain residential 1-4 unit properties. When you start getting 5+ units, LLCs are normal and lenders have no problem with them since every property is an investment property.