It’s time for another real estate edition of Ask Paula!
Our first question comes from Heather:
Heather is ready to buy her first rental property. She wants to acquire about one house per year, following a buy-and-hold strategy.
What’s the best way to structure this? Should she put her properties into an LLC? Hold them in her own name? Something else?
I’ve come across several real estate investing clubs, or memberships, in which the organization pulls together a list of various contractors and property managers. Is this a great resource, or something to be wary of?
Salome from Cincinnati asks:
My husband and I are renting out an unused room in our house on Airbnb. We’re interested in venturing into buying rental properties later. Do you recommend that we set up an LLC?
That’s all for this episode. Enjoy!
P.S. – Have a question you want answered? Leave it here!
P.P.S. Need software to manage your rental properties? Collect applications, screen tenants, and collect rent online with Cozy.co/Paula.