llc_seeker
New Member
Hi All,
I with a couple of my friends are trying to buy a investment property for rental purposes. I am exploring what my options are -
1) General partnership - This would not work for us as in this case each one of us would be liable for the complete mortgage, even though it is in partnership. I do plan to buy a personal house later and this partnership loan would make it difficult for me to get a mortgage.
2) LLC - This would provide limited liability, but I am not sure about would the cost of this be worth the effort. We plan to buy a SFH providing a rent of about 1000 a month or so.
Any other options I have? Would LLC still be my best option? Anyone else trying to do the same things ?
Any response would be highly appreciated!!
I with a couple of my friends are trying to buy a investment property for rental purposes. I am exploring what my options are -
1) General partnership - This would not work for us as in this case each one of us would be liable for the complete mortgage, even though it is in partnership. I do plan to buy a personal house later and this partnership loan would make it difficult for me to get a mortgage.
2) LLC - This would provide limited liability, but I am not sure about would the cost of this be worth the effort. We plan to buy a SFH providing a rent of about 1000 a month or so.
Any other options I have? Would LLC still be my best option? Anyone else trying to do the same things ?
Any response would be highly appreciated!!
