Forums / Property Investing / Help Needed! / Forming LLC before or after getting an investment first property?

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  • Profile photo of Bokchee88Bokchee88
    Participant
    @bokchee
    Join Date: 2019
    Post Count: 2

    I am very confused of what i am suppose to do. I have saved for down payment for properties below 250K.
    But, i am not sure should i form LLC for asset protection and liability before i get a property or after?

    Second question is, i want to take mortgage as well, so if i get mortgage will be under my personal name, how this will work if i setup a LLC? I understand that banks for LLC mortgage wants 25% down payment.

    Any help, please.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    which country are you purchasing in?

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Ricky JohnsonRicky Johnson
    Participant
    @fixedandsold
    Join Date: 2019
    Post Count: 0

    What you need to form really depends on what you are trying to buy and where? You might want to look at particpating in a real estate fund or something else you can start with reasonably, use a credit card for security and still get 10% returns.

    Ricky Johnson
    Phone Me

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