All Forum Posts by: Julie Flynn

Pete Bhanshali, We don't want it under our name, not even for 2 minutes just to start with, because in the event we get sued, the court will look back for a 2 year period to see what name was on the property before it went into the LLC, and if that person looks like they have assets worth going after, they will (from what we've researched). We just listened to a long BP podcast 105 for rookies detailing how insurance is very very limited. It's one tool for asset protection, but not nearly as good as structuring your LLC, and then even putting THAT within an LLC.

Dave E., thanks for that info re commercial lenders not touching a SFH. Dang.

Thank you, MichaelT Tsyngauz. We will look for a broker. And Ralph, I really appreciate the link to the podcast re LLC's and insurance for rookies. My husband and I are listening and learning a lot. We have an appointment with a lawyer this week.

Hi! My husband and I are looking to make our first investment purchase-a modest house for long term rental. Now that Fannie Mae and Freddie Mac no longer allow a mortgage on a purchase within an LLC, how can we get a conventional loan? Or is a commercial lender our only option? We are quite concerned with shielding ourselves from liability, and we read that if we purchase a property in our name and then transfer it to an LLC, a judge or court could come after us because they look back 2 years at all people/entitites to see who to sue. We are looking at purchasing in OKC.

Hi! My husband and I are beginners and are on a steep learning curve to figure out if we want to start with a STR or a regular rental property. We came across Mashvisor, which seems like it will save us a lot of time. Does anyone have any advice about that site?

Hi Liz,

I'm new to BP and am learning terminology. What's a STR?

Julie Flynn