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Updated almost 5 years ago on . Most recent reply
First rental property
Hey I found a single property home that I think would be a great first time deal. I'll be using it as a rental property but I'm new to investing so I'm not sure where to start. I'm thinking getting a LLC and buying the property under my LLC first, then finding tenants to fill it ?
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Nathan Gesner
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- Real Estate Broker
- Cody, WY
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Just buy the property. It's more important that you know how to price it according to the rental market, screen applications, have a solid lease, and about 117 other things before you worry about setting up an LLC. I own 25 doors and don't have an LLC. I know other investors with over 50 doors owned privately. The LLC is not necessary.
- Nathan Gesner
The DIY Landlord Book
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4.7 stars