64: Rookie Reply: How Do I Place Properties Under a Newly Acquired LLC?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 27 March 2021

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week’s question comes from Mantas on the Real Estate Rookie Facebook Group. Mantas is asking: How do I place properties under a newly acquired LLC? Before you place your properties in an LLC, you’ll need to ask yourself if you need an LLC in the first place. This really depends on your goals as an investor and whether you have a partner or not. Many investors skip the LLC route and put a rental property solely in their name, while other investors that work with partners choose to either start a new LLC or put the new investment property in their current LLC. Here are some suggestions: Make sure you know the financing options for LLCs vs. buying in your own name Get an umbrella policy if you don’t have an LLC Speak to a trusted attorney or submit LLC paperwork yourself (if not too burdensome) Get commercial financing for your LLC and purchase the house in its name And Much More! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Check the full show notes here: http://biggerpockets.com/rookie64 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is real estate rookie show number 64.
0:07.3	My name is Ashley Care and I am here with my co-host Tony Robinson and Tony is super jealous
0:14.5	because I just got back from Hawaii. You got like the glow going on, the tan, you look real relax.
0:22.0	This is that's how I looked when I came back from a neck scrap from my honeymoon. You got the
0:25.6	you got the vacation glow. Yeah, it's actually sunburned and my skin is peeling, but thank you.
0:32.8	I think we all have to hide up cameras on today.
0:38.4	Yeah, so I went out and did the Maui Master Mind with Brandon Turner and Tarlie Yarber.
0:45.3	That was so much fun. Got to meet a lot of great investors and next year Tony is going to come
0:50.5	with me, right? There you go. Yeah, you know, I can't wait. I've never been to Hawaii. We're
0:54.9	hoping that we can go this summer. But while you were in Hawaii, Ashley, I was actually I spent
1:00.7	15, 16 hours on Sunday, setting up our next Airbnb. So we we picked up the U-Haul at seven,
1:06.7	we didn't get back home until like almost midnight and it was the one of the longest days that we've
1:10.8	had. But it was worth it, you know, so you know putting together Airbnb's and Joshua Tree or Maui,
1:19.6	I saw on Sarah your wife's Instagram that you guys had some neighbors helping you there.
1:25.9	Yeah, we found some free labor, you know, that's that's like real estate investing 101,
1:30.7	whenever you can find free labor. Yeah, the kids too, child labor. So
1:38.0	that's the best kind of free labor show. You have to tell them what did they ask you guys and
1:42.8	they first came over? Well, they thought that well, not that they thought, but they thought that
1:46.9	we were famous YouTubers because we had our camera because you know, we just started our YouTube
1:51.7	channel and we've got like a like a cool camera and we've got like a gimbal which is the thing that
1:54.8	holds the camera. So we look really professional on like on the outside, but we have no idea how to
1:59.4	use it all. So like they came over and they were asked and it's like, oh, do you know like the royal
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.