LLC?

Can anyone tell me any negatives about putting invesyment property into an LLC?

Comments(2)

  • myfrogger14th October, 2003

    #1 question: What are you planning to do with the property?

    I am not an accountant or tax expert but the plan I use is to use a either an S or C corp for flipping and LLC for holding.

  • hirsh15th October, 2003

    Any debt you incur in an LLC that you are a partner/member in must be disclosed as your personal debt on a residential home loan application. This may not be reason enough to avoid an LLC since in the rehab biz you're (usually) not simultaneously buying a home thru conventional channels while borrowing rehab money at 12%.

    That said, my attorney friend and I formed an LLC for investing.

    My 2 cents.

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