Buying LLCs instead of buying Houses

Tampa, Florida
Innovative Strategies
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Buying LLCs instead of buying Houses

Matt Sora
Member since 2021 · 77 posts · 19 votes

If I'm wanting to purchase a house and to avoid the property taxes going up can I have the owner drop it into a LLC and I buy the LLC from them to avoid the property tax increase? Also could I still use a mortgage to purchase the LLC? If not how do I finance?

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
4y

@Matt Sora

One thing to be aware of when buying a LLC is if there are any loans, judgments, debts etc you are taking responsibility and liability for all of those as well. Make sure you have an attorney write up an iron clad contract

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    4y

    LLC's give you a lot of power and flex, but there isn't enough info to answer this question as it relates to your specific situation. The answer in general would be, yes, maybe,...and no, ...and you don't.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y

    @Matt Sora

    One thing to be aware of when buying a LLC is if there are any loans, judgments, debts etc you are taking responsibility and liability for all of those as well. Make sure you have an attorney write up an iron clad contract

    7e investments53 Reviews
    WebsiteView Page
    1Reply
  • Jay Leisten
    Real Estate Broker · Louisville, KY · Member since 2014 · 362 posts · 232 votes
    4y
    Quote from @Chris Seveney:

    @Matt Sora

    One thing to be aware of when buying a LLC is if there are any loans, judgments, debts etc you are taking responsibility and liability for all of those as well. Make sure you have an attorney write up an iron clad contract


     This strategy is discussed alot locally for taking over an Airbnb so that you dont have to restart the conditional use or the AirBnB listing. I dont know many actually employing it.

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    4y

    I do.

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