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Updated over 6 years ago on . Most recent reply

User Stats

22
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1
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David Decker
  • Rental Property Investor
  • Florida
1
Votes |
22
Posts

Can I make this work ? 55+ and LLC

David Decker
  • Rental Property Investor
  • Florida
Posted

Whats going on Bigger Pockets and friends. I have a interesting question. 

I'm looking to buy a mobile in a 55+ community. Management says I can have my father 58, sign for the purchase. 

I would be technically buying it and paying my father. Management says as long as someone is 55+ living on the property than I can rent it out to another tenant after screening and app. 

Now I'm planning on starting an LLC and placing that property/mobile under my LLC - but my question is

How do I place that mobile under my LLC if it's in my dads name? So I'm protected after the new tenant moves in?

Would I use a land trust or estate trust, or can i have my name on that mobile as well so i can transfer the mobile under my LLC?

I'll also ask the manager before I buy, but i figured it's a good question before I go to corporate direct lol 

Thanks!

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