This is why LLC is better to have than having a mortgage in your name. I go over why it is better to do your first property in your personal name vs. jumping into an LLC right away. The pros and cons of using each and when you should start using the LLC for asset protection.
Explained in simple terms for everyone to understand, you can use your own name for a property and take advantage of the low money down and lower locked mortgage rates.
When is the right time to make an LLC for your investment property? In this video I go over the advantages of keeping a property in your name for a certain amount of time and how long you must live in the property in your name without the possibility of fraud surfacing. This leads to using a Quitclaim Deed, the benefits of it, when it is important to use and how to do it the right way to maximize your benefits.
A LLC doesn’t affect your credit and protects you from liability issues. In case someone slip and falls on your property, this protects you and your personal assets from potential liens.
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⏰ 🎬 TIME FRAMES🎬 ⏰
00:00 Introduction
01:31 What is a LLC
02:20 LLC Advantages
04:01 Tax Reasons
05:45 HouseHacking to LLC
07:20 Mortgage Limits
08:32 QuitClaim Deed
09:59 Refinance with LLC
10:26 Add Property Value
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