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Updated 12 months ago on . Most recent reply

Brody Veilleux's profile image
Brody Veilleux's profile image
Brody Veilleux
  • New to Real Estate
  • from Macomb County, MI
  • Member since Jun 12, 2024

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Brody Veilleux's profile image
Brody Veilleux's profile image
Brody Veilleux
  • New to Real Estate
  • from Macomb County, MI
  • Member since Jun 12, 2024
Brody Veilleux
  • New to Real Estate
  • Macomb County, MI
17
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32
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House Hacking

House Hacking with an LLC

Brody Veilleux
  • New to Real Estate
  • Macomb County, MI
Posted

As far as I'm aware, FHA loans are only for individuals. Is there any way to get an FHA loan and transfer it to the LLC? What are the pros and cons of this?

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Basit Siddiqi's profile image
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Basit Siddiqi
  • Accountant
  • from New York, NY
  • Member since Sep 27, 2015

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Basit Siddiqi's profile image
Basit Siddiqi
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  • from New York, NY
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Basit Siddiqi
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

Be mindful that a house-hack is a partially a personal proprety and partially a business property.

An LLC is normally meant to only hold business assets. You may not be getting the protection you are looking for if you mix personal and business assets within an LLC.

Best of luck

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Basit Siddiqi CPA
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