Tips on Property Investment » Form An Llc http://property-investment101.com The Best Investment Properties Advice Wed, 30 Dec 2009 20:08:52 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 What’s the best way for 3 people to buy an investment property? http://property-investment101.com/property-investment-advice/whats-the-best-way-for-3-people-to-buy-an-investment-property/ http://property-investment101.com/property-investment-advice/whats-the-best-way-for-3-people-to-buy-an-investment-property/#comments Thu, 09 Apr 2009 21:14:12 +0000 admin http://property-investment101.com/property-investment-advice/whats-the-best-way-for-3-people-to-buy-an-investment-property/ property investment
J asked:


We were going to form an LLC and buy it through there but someone told me that an LLC cannot buy property, and that one of the 3 people would have to buy it. Is that true? Can you then transfer the property into the LLC? Would you want to do this? How is this taxed? What is the best way to go about this?

Darrell
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J Rizzle asked:


I have a home that is going to be converted from my primary residence to an investment property that I will rent out. I would like to know if putting this home in an LLC is the best course of action to limit my liablity. Also I will be residing in a state other than the one the soon to be investment proerty is located. Should I form the LLC in the state the property is in or the state I will be residing in? Only helpful answers please.

Charlene
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