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Investment Property - Separate Entity or under own name

909 Views | 7 Replies | Last: 7 yr ago by Jay@AgsReward.com
NawlinsAg05
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Just curious what the board has to say about having investment properties (rental houses) under your own name or if a separate entity should be set up? Would love to know the pros and cons of each way to do it.
CS78
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Own name. Plenty of insurance. LLC not worth the pain. Ive got both and if I could go back I wouldn't have messed with the LLC.
The Wonderer
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AG
own name if you/wife are the sole owner/s.

Entity is really only necessary if you have other owners of if the entity is already established and available.
JustPanda
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AG
The Wonderer
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ZoneClub said:

Always own in a separate entity. Gerald Hines agrees.


If you own several and go the series llc route, I'd agree. For just one, ample insurance is available for protections. Individuals have greater asset protections, generally speaking, than entities.
752bro4
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AG
ZoneClub said:

Always own in a separate entity. Gerald Hines agrees.
What does Mr. Hines know?
JustPanda
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libertyag
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Depends on the amount of your other assets as to separate entity or not. Generally, I prefer a separate entity.
Jay@AgsReward.com
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AG
If you are planning on paying cash ignore, but if you are planning on financing you would need to know that you cannot get conventional financing in a LLC.

You can get financing in an LLC but the rates are higher and the terms are generally worse. I tend to agree that insurance can get you the same place for the first handful of properties.
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