Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

6
Posts
1
Votes
Thomas Sokolis
  • New to Real Estate
  • Bucks County, PA
1
Votes |
6
Posts

Collecting Rent through an LLC when personally owned

Thomas Sokolis
  • New to Real Estate
  • Bucks County, PA
Posted

I bought a property 18 years ago and lived in it for 8 years.  When my wife and I moved to our new home, we kept the property, and decided to rent it out.  My name alone is on the deed.  We had a tenant in there for 10 years.  She unfortunately destroyed the property and we are now in the process of an eviction.  We will then have to rehab the property.  

My question is, I bought the property as a single fella in 2005. I created an LLC in 2023 thinking I may transfer it into that, however, the transfer tax ($5,000) makes it not worth it in my opinion. I own the property outright with no loan. Should I collect the rent through the LLC or just keep doing it myself?

  • Thomas Sokolis
  • Loading replies...