First time purchasing

[Brian Simental]

Any Advice on how to start an investment property? My wife and I are looking to purchase a property as an investment should we start off with or without an LLC?

[Travis Timmons]

Starting and pulling the trigger on something is the most important thing. One can get lost in the minutiae really easily. Either way is fine. And you can move the property into or out of an LLC after purchase. It is not a permanent decision. Even if you put it in the name of an LLC now, you'll likely end up forming a series LLC down the road and placing the property within that if you continue to invest and collect properties. It's far more flexible than I once thought.

Benefits of property in your name: better loan terms and rate - everything about financing is easier. 

Benefits of LLC: asset protection, but consider your exposure - how much equity will be in the property to start and what is your net worth? If you have a pile of assets worth protecting, this question may matter more. Also, single member LLCs with one property in them are easily pierced if it would come to that. Having an LLC does not mean that you are 100% shielded and protected.

Hope that helps...your first property is your most important one - it gets you in the game and builds momentum. It won't be your best deal and you won't know what you're doing, but the best way to learn how to own an investment property is to own an investment property.