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Updated about 3 years ago on . Most recent reply presented by

Maximilian Mayr's profile image
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Maximilian Mayr
  • Investor
  • from Costa Mesa, CA
  • Member since Sep 19, 2021

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Maximilian Mayr's profile image
Maximilian Mayr's profile image
Maximilian Mayr
  • Investor
  • from Costa Mesa, CA
  • Member since Sep 19, 2021
Maximilian Mayr
  • Investor
  • Costa Mesa, CA
6
Votes |
6
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Tax, SDIRAs & Cost Segregation

Should my wife and I form an LLC for rental property?

Maximilian Mayr
  • Investor
  • Costa Mesa, CA
Posted

Hi BP community,

My wife and i are currently in contract with our first out of state investment property. It would be a small multi family property in Ohio. We both contribute to the downpayment and will be on title together. Our goal is to buy more rental properties in the future. 

So my question is if we should form a multi member LLC and put our first rental property in it after closing or should we just keep the title in our names?

thank you for the help in advance. 

  • Maximilian Mayr
    • Orange County, California
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    Russell Brazil
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    Russell Brazil
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    Russell Brazil
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    ModeratorReplied

    More than likely you wouldnt maintain the LLC properly anyways. Just get umbrella insurance instead.

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