Using an LLC to purchase home

[Nick Murray]

Hey all!

I am full of questions, and I truly do appreciate everyones time and effort in their responses thus far; BP really is an awesome community! Ok so onto the question:

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  Let's say I am purchasing a single family home for $600k using seller financing. With this, I have two options one being put it under my personal SSN, or use my LLC to secure the deal (both are on the table with the seller as they have no preference). Does one option have more pros than cons as far as taxes and business expenses etc.? As my LLC is a Real Estate business and I am wondering if there's a specific way to structure it that would be more advantageous.

Thanks again everyone!

[Ashish Acharya]

Originally posted by @Nick Murray:

Originally posted by @Ashish Acharya:

 Primary residence? 

Yes, that is the idea!

Thank you 

People get LLC to keep their business activities separate from personal asset. If they get sued, their personal asset is not taken.

You are intentionally putting personal asset in the business's LLC. Does that sound right to you?