All Forum Posts by: Christine Hamilton
Christine Hamilton has started 1 posts and replied 4 times.
Post: LLC For Rental Property?
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Yes! Saw those youtube were very helpful.
Post: LLC For Rental Property?
- Posts 4
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My husband wants to for protection. I will show him this so he can make a choice. Appreciate your guidance.
Post: LLC For Rental Property?
- Posts 4
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Quote from @Matt M.:
Quote from @Bruce Woodruff:
This question gets asked pretty much every week. A search will get you a lot of info.
But why do you want to go with an LLC at all? A lawyer will ALWAYS tell you to go this way, but is it the best way? Depends on your specific situation. The 'extra veil to pierce' concept is not always correct.
I don’t see the need to do an LLc either. And I have clients with 20-30 properties with no LLC.
Thank you - I usually do a search. New to BP platform; I am not finding it friendly to use. Took me about 40 minutes to find out where to post this. We also listened to BP one with the "piercing" and I it sounded like LLC is the way to go. I have not gotten into a car accident for 30 years but I always wear my safety belt. ; ) kinda person.
Post: LLC For Rental Property?
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Hi all, new here! We are planning on purchasing 2 STR in NC, which we will vacation at throughout the year (one at beach other in mountains). We want to make these properties each their own LLC. Spoke with a local lawyer who said that in NC you can only use the property as one or the other. When I spoke to the lender they said to go as a vacation rental then after closing make it an LLC. Lawyer said if you switch that would be breech of contract of for the banks and possibly can terminate the mortgage. the STR are not under LLC's. We want LLC for more protection.