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Tax, SDIRAs & Cost Segregation

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Wei Jie Yang
  • New York City
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152
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Start an LLC for the sole purpose of getting a HML?

Wei Jie Yang
  • New York City
Posted Sep 5 2019, 23:18

Does it make sense to start an LLC in a state you have no property in for the sole purpose of getting a HML for properties in that state to either fix and flip or attempt a BRRRR at? I currently have properties in a few states (Ar, AL, MO) but I want to start either flipping or attempt my first BRRRR in Indy. I've talked to a few HML's. A few are willing to lend to me and a few are willing to lend to only an entity.

Should I create an Indy LLC to get a HML loan? Would a Al, AR, MO LLC suffice for HML Entity requirements? If I were to use an OOS entity, would I have to register it to Indy if I got a HML for a property there?

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