Buying or Selling a Home/titling of investment

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Expert: - 10/12/2009


Question
I am purchasing a investment property. I have two other properties, one which is mortgaged in my name. I recently formed a LLC. Should I buy this home in my name or the LLC?

Answer
This would be very difficult to answer, Ceno, because I have no idea what your tax position is. You really should ask this question of a CPA or other tax expert. That person would be able to advise you after seeing which is better for you after knowing your tax status. I don't know why you would put your home in your LLC. It would be better taxwise to put it in a revocable trust. That's another question to ask that CPA. He/she will then ask you some questions before answering yours. I do wish you well.

Dick Dennis

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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