LLC or own properties on my name

[Yeury Galva]

Hello everyone,

I am a newbie getting started. Closing on a BRRRR pretty soon and also shopping for a house-hack property. I plan on holding my house-hack under my name because that's what my lender recommends for me to get funds for it. However, for the BRRRR property, hard money lender required me to have an LLC. I Am wondering whether to keep it in an LLC after purchase or pass it to my name? Will having an LLC decrease my cash-flow by a lot?

[Marcus Auerbach]

Agree with @Mike Wood. 30 year fixed residential is the best loan. And if you have a low net worth having a 1-4 unit in an LLC will not do that much for your liability protection anyway, especially if you don't run it as a truly seperate business with it's own bank accounts etc.

An LLC does not provide any sorts of legal protection just throught it's existence, it just limits the damage to within the entity, so it's like a firewall. Get an umbrella insurance with $1M coverage instead, its very cheap and hard to imagine you get sured for over $1M - and loose!

LLCs are meant for larger commercial projects like an apartment complex; in fact lenders will require you to form an LLC.

Just my personal 2 cents; not legal advice.