Real-Estate Focused CPA in Austin, TX

[Trent Guillory]

Hey everyone, I'm new to RE investment in general, but I'm trying to get started on the right foot. 

My plan is to invest with the BRRR model. Ideally taking out a short-term loan to purchase and repair the property, then refinancing with better terms.

But the first matter of business is deciding the best way to take out these loans - should I take them personally or put together an LLC? I understand this decision affects my own financial exposure, my ability to acquire loans in the first place, and likely taxes.

One potential issue I see is that a brand-new LLC won't have any income, assets, or business function. Meanwhile I've got plenty job history personally that would make lending simpler.

If you have personal experience in weighing these options, I'd love to hear your thoughts.

Appreciate the help.

[Aaron Gordy]

@Trent Guillory Laura is on point. Talk to a hml first in regards to financing. They usually require a llc to lend money to as it's easier for them to foreclose if things go south. Be aware of some lenders that "loan to own" as this is unregulated territory. There are some solid ones too.  Also, getting a good cpa that knows real estate taxes is imperative. There are some good ones on bigger pockets. Welcome to BP!