All Forum Posts by: Orlando C.

I think for the time being I'll let it as it is...

I'm not worried about asset protection at this time I'm just starting out. Plus we got a law here that nobody can take your primary residence only the mortgage owner. So my idea was to create the LLC, so it will have an asset that in time would help me get other properties... or is it easier to add other properties on my name as well? Thanks...

I think I should explain a little more, my intent is in no way to deceive the tenant. My main reason is to have a separate entity for my business activity. Build history, credit and so on. So I can add properties on the future under this LLC. If transferred to an LLC In fact I would not be the owner but the LLC. I would be the Managing Member of the LLC. Does this make sense?

Hi BP,

I just registered and have been lurking the forums for a while. So I just bought my first property, a 4 Unit, a REO with a 203k loan. Currently, on the renovation process. I'm going to be a live in landlord and rent the other 3 units. So I was thinking about transfering the title to an LLC and present myself as the Property Manager, who just lives one of the units. So is this a good path? I'm all ears! Thanks in advance, Orlando

Hi BP,

I have been reading the forums for a few weeks. Found this site by searching thru the net for advice, tips and so on. Just bought a 4 unit multi family with a 203k loan. Currently on the renovation process. I'm just 23 years old so this is my first residence and I will be a live in landlord fora while. Also, today I'm starting my RE Broker course. Well I think that covers the basics and I hope I keep learning from all of you.