Spring, TX · Member since 2013 · 36 posts · 6 votes
Hey guys , looking to jump in with my first investment deal I found from a wholesaler. I am recently married and I know texas is a community state. Does investment properties change in anyway if paying cash from a wholesaler? Or do I just put both our names and both sign at close. Thanks.
Open a llc and put it in the llc name. It only costs 309 and run it like a business. It is a business. It can help limit your personal liability if a tenant or someone sues you. They have to sue the llc first and assuming you didn't run the business like your personal finances the only asset at risk should be what the llc owns. You can more efficiently keep expenses separate. You can always add your wife to the llc or not(she will get half the stuff if you leave, it is usally cheaper to keep her) If you need help or have questions pm me.
Open a llc and put it in the llc name. It only costs 309 and run it like a business. It is a business. It can help limit your personal liability if a tenant or someone sues you. They have to sue the llc first and assuming you didn't run the business like your personal finances the only asset at risk should be what the llc owns. You can more efficiently keep expenses separate. You can always add your wife to the llc or not(she will get half the stuff if you leave, it is usally cheaper to keep her) If you need help or have questions pm me.
Hey guys , looking to jump in with my first investment deal I found from a wholesaler. I am recently married and I know texas is a community state. Does investment properties change in anyway if paying cash from a wholesaler? Or do I just put both our names and both sign at close. Thanks.
How is the deal from the wholesaler coming along? Would love to connect with you and see if we can partner on a deal in the future.
@Lionel Mosby Jr ended up not working out. I bailed last second due to an attach custom covered patio that looked unpermitted and I didn't want to deal with the headache.