Collect rent without LLC

[Marvin Rios]

Hello!

Newbie here trying to figure out my approach on my first purchase.

I’ve read here in some cases setting up an llc may be overkill on the first purchase. Some advise to simply get the mortgage under your name and get an umbrella insurance policy (it can later be transferred to the llc).

If that’s the approach, do I simply have rent written directly out to me? With an llc the rent would go there. This part of the set up (income collection) seems odd and would obviously have impacts to my taxes. Thoughts?

[Polo Vazquez]

Yes sir! Just have the checks done in your name. You can use COZY.CO to collect rent online and have it deposited directly to your bank account. It's free