Rental Property Investor · Titusville, FL · Member since 2019 · 10 posts · 3 votes
I have a few ?s regarding business entities and purchasing properties in the business name.
1. What type of business entity should I start for rentals ? Im guessing llc ? and why?
2. How do I get a conventional 30 year loan or something similar from bank into business name to protect personal assets?
3. I have 75k in personal savings account that I want to use to invest with, what is the best way to give that to new company without many headaches or what are some concerns when transferring the money ?
I have a few ?s regarding business entities and purchasing properties in the business name.
1. What type of business entity should I start for rentals ? Im guessing llc ? and why?
2. How do I get a conventional 30 year loan or something similar from bank into business name to protect personal assets?
3. I have 75k in personal savings account that I want to use to invest with, what is the best way to give that to new company without many headaches or what are some concerns when transferring the money ?
Hi, Jesse.
I only can answer 1 of the 3 you asked. I'm currently have Umbrella Policy which helps to protect personal assests and the protection could be up to $5 million. Any insurance companies out there do have this to offer as long you have car insurance with them.