How to buy your first rental property under an LLC?
After going to a few investment classes I’ve learned that buying a rental property under an LLC is a good idea. Business loans obviously require 2 years of history. How do I buy my first rental property under an LLC to protect myself of possible future lawsuits (if any).
Congratulations on buying your first rental property. it is best to purchase an investment using an LLC. You should speak with an attorney or CPA who can guide you on the best way to prepare the documents for your current situation. As a new LLC, you will have to personally guarantee any financing that you receive or borrow from a non traditional lender such as a private investor or a hard money lender. Best of luck to you.