Creating an LLC for 1st property

4 Replies

@Justin Carter - Congrats on starting your real estate journey!  If your first property is your primary home as well, let us know, @Eamonn McElroy is right that it's not advisable for that to be in an LLC.

BUT! If it's your first true investment property, I'd recommend against starting with an LLC. I wrote a BP blog post a while back and it breaks down why you might not want to start with an LLC.

@Jake Hottenrott @@Eamonn McElroy Thank you guys for your insight! Yes, the property will be my primary residence at least for the 1st year. I'm using FHA financing and so as you know, it's a requirement that I at least live in the property for the 1st year.

As I acquire more properties I'll revisit the idea of creating an LLC. I'm certain I won't stop at 4.

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