Home Buying in Las Vegas>Question Details

Charles, Home Buyer in Las Vegas, Las Vegas,...

I want to buy a SFH in NV to use for rental. What is the best way to hold the property, Personal or LLC?

Asked by Charles, Las Vegas, Las Vegas, NV Mon Apr 16, 2012

Can anyone refer a good Realtor in the Las Vegas area that deals with investment property and investors and also recommend a good loan officer?

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18
Ellen Redd’s answer
I am in agreement with the previous agent, that it is all relative. You could benefit more one way or the other based on your portfolio, and net worth, as well as what type of business you are in, and what liabilities you have. An accountant, and attorney would be my advise first. You can hold the title in several ways, so based on the WHOLE picture of your personal and financial life, you will want to explore options before you close. I can refer you to a few attorneys and accountants who specifically work with investors on these issues, before you get too deep.

Feel free to contact me at 702-631-8585 or email:
ellenredd@msn.com
0 votes Thank Flag Link Wed Apr 25, 2012
You first must qualify under your own name and SS#, then after escrow, I set up an LLC under a corp for maximum privacy and tax savings. I actually own a number of rental houses, plus a buyers agent license. Can help you achieve all your goals with one phone call.


DAVID COOPER Trulia Voices INVESTOR-BUYERS AGENT
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CALL NOW! 702-499-7037
email: http://www.facebook.com/davidcooper.lasvegas
Since 1917 Realty & Property Management - Jay Rosen,Broker 702-739-8820
1 vote Thank Flag Link Tue Apr 17, 2012
We manage over 350 homes/condos. My wife and I work only with the investors/buyers. We've been in Vegas since 1976. If you ever want to turn property back to your personal residence you might want to keep it in personal name. If it's going to be a investment, then LLC might be best way to go. We can handle all maters of your real estate needs and have the best loan officer in Las Vegas to assist you. Feel free to use our web site to do basic searches till we can create a custom search for you. Thanks, Matt and Kim.


Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
1 vote Thank Flag Link Mon Apr 16, 2012
Depending on your assets and net worth one may give you a greater advantage over the other. Good advice from all as well...consult an attorney who specializes in NV real estate law. Some of my clients hold in LLC, some personal, some in a trust. My recommendation is a trust. If you are financing, you will likely have to finance and record title in your name, then transfer to an LLC or Trust.

Dombrovska
dombrovska@yahoo.com
Toll Free: 1.800 CALL ZIP x5728
Cell: 702.379.3662
SearchLink: http://lead.domlar308.las.mlxchange.com/
0 votes Thank Flag Link Tue Apr 17, 2012
Linda is correct... an LLC cannot purchase nor can a Trust. Good advice from all as well...consult an attorney who specializes in NV real estate law.
0 votes Thank Flag Link Mon Apr 16, 2012
Since you require financing...

While you have the right to transfer ownership (deed) of the property to whomever you choose, including a LLC, when there is a mortgage on the property, the mortgage lender also has an interest in the property.

Because the mortgage borrower must have an ownership interest in the property, the lender may or may not allow a personal borrower to hold the mortgage on a property owned by a LLC.
0 votes Thank Flag Link Mon Apr 16, 2012
Hello Charles,

The majority of our clients perchase properties in an L.L.C.

I would suggest you consult your accountant first.

I would be delighted to assist you once you are satisfied.

Please feel free to contact me directly at 702-883-1488.

Respectfully,

Janice Krygier
0 votes Thank Flag Link Mon Apr 16, 2012
That is a question for your lawyer or CPA or Both. Depending on your assets and net worth one may give you a greater advantage over the other. No matter what you chose to buy, get the advise of those who someday may have to defend your position.
0 votes Thank Flag Link Mon Apr 16, 2012
Note: if you are putting it into a separate LLC you might find double taxation on profits if you don't do your account right...
0 votes Thank Flag Link Mon Apr 16, 2012
Some of my clients hold in LLC, some personal, some in a trust. My recommendation is a trust. If you are financing, you will likely have to finance and record title in your name, then transfer to an LLC or Trust.

My personal preferred lender is:

Matt Hennessy
702-810-1522
matt@hennessyfinancial.com
0 votes Thank Flag Link Mon Apr 16, 2012
Charles
I had 10 rental properties and I held mine in LLC's. Delaware has a series LLC structure that can be good for some investors if the plan on having multiple rentals. Also check on a large umbrella insurance policy. If you need my help and direction just let me know. I am always available to answer your questions and help in anyway I can.
Thank You
Suzie Marquardt
fahrnyteam@yahoo.com
702-234-7653
http://www.LasVegasRealEstators.com
0 votes Thank Flag Link Mon Apr 16, 2012
Hi Charlie,
Buying a Real Estate property with the intention of investment and renting it, Its recommended to buy under an LLC to protect yourself and your assets in case of a litigation. I would sujjest to talk to your accountant for the best advise and deciding what is best best way to take title as.

If you are in need of a good local CPA, that is working with investors and knows their needs, please contact me at 702-612-7099 or email at cvegashomes@gmail.com.

I offer AAA+ " One Stop Shop" service ..a team of professionals tfor all investor's needs that includes property management, certified accountants, banks, financing, insurance, title, appraisers, inspectors, translators, repairs and etc.
We also offer full service to our of town and country clients of going to the properties, taking pictures and videos. Preparing market comparable for rent and sold properties and using high technology systems to keep you informed and within reach.

For more information, visit my website at http://www.cvegashomes.com to search for all the bank owned properties in Las Vegas under $ 100K.

Rena Levy
Broker/Associate
Realty Executives
702-612-7099
cvegashomes@gmail.com
Web Reference: http://www.cvegashomes.com
0 votes Thank Flag Link Mon Apr 16, 2012
Hello Charles,

As one who is in the top 5% of the City in Sales volume, I hope I would be considered among the ranks as a "Good Realtor", but there are a lot of really good agents in Vegas to choose from. I can also recommend a good Lender. I have been in the Real Estate business for more than 32 years, 20 of which have been in the Las Vegas market.

As an investor myself, I will tell you I prefer to own my properties in an LLC, but I do not know your situation, so cannot say definitely which is best for you. Since Nevada does not have corporate or State tax, the other consideration for ownership deals with personal Liability and the ability of an entity to penetrate the corporate shield. With any property you purchase the Lender is going to require that you sign personally, not as a Corporation, so there is no advantage from the standpoint of liability in case of default. Do you have any other reason you want to consider purchasing in your LLC?

If I can help, please don't hesitate to call or email.

Best of luck, and thanks for reading.

Steve Matthews
Prudential Americana
70-491-4663
Stgeve@reovegas.com
0 votes Thank Flag Link Mon Apr 16, 2012
Hello,

Great questions. LLC is the best route. You will have to make sure to write the offers in your personal name if you are planning on getting a loan then putting the properties into the LLC. Cost is very low to do the transfer. $50 or so.... We represent many investors and would be interested giving you an initial consultation if you like... Here is a link to my team and I:

http://dalesnyder.net/videos/the-team-concept-in-real-estate…

Here is our last investor newsletter that just went out last Saturday:

http://dalesnyder.net/news/las-vegas-investment-properties/

Hope this information is helpfull...

Dale
0 votes Thank Flag Link Mon Apr 16, 2012
are you local?

what's your budget?

do you have the ability to fix it up or get it fixed up and ready for occupancy?

would you like a ready to rent turnkey property?

would you like a property with a tenant in place?

feel free to call me at 702-677-8796
0 votes Thank Flag Link Mon Apr 16, 2012
Hi Charles,

It's best to consult your accounting and legal team on how to structure your specific investments. In my personal experience, i've found it best to hold each rental property in its own unique LLC. This way, the properties are unrelated and won't be liable in case of an incident.

I'm happy to help you find the right property for your needs and connect you with a quality loan officer. I have an additional idea for you that you may want to run by your team of professionals. Give me a call to discuss.

Thanks!

Michael Coxen
Prudential Americana Group, REALTORS®

c 702.339.8891
o 702.312.7070
f 702.317.3853

http://linkd.in/p2DIWP
http://facebook.com/michaelcoxen
http://twitter.com/michaelcoxen

Search for all current properties in Las Vegas at http://michaelcoxen.com
0 votes Thank Flag Link Mon Apr 16, 2012
I am a good Realtor , been in the business over 15 years and am a native of Las Vegas. I have my ABR,GRI and most of all my CRS designations. I work with a very good lender who I could set you up with when we talk.

After you get qualified for a loan, you will need about 1500 for EMD (earnest money deposit) that will hold the property after you have made an offer.

Please call me so we can talk. 702-239-6900 Rhondasellsvegas@gmail.com http://www.AllLasVegasHomes.com
0 votes Thank Flag Link Mon Apr 16, 2012
Good Afternoon,...
The protection from an LLC is well worth it. You don't want to put your personal assets at risk.
I am a Las Vegas Realtor and I work with several investors both in and out of the area.
I also have good relations with several experienced loan officers.
Feel free to give me a call.
Contact info is below....

Sincerely,
Hank Lauzon III



Exit Las Vegas Realty Center
6600 W. Charleston #119
Las Vegas, Nv 89146

Cell 702-449-0899
Office 702-949-2409
Fax 702-543-6844


Web : http://www.HanksLVRealestate.com

Email HankLVRealestate@aol.com


Never look down on anybody...unless you're helping them up.
0 votes Thank Flag Link Mon Apr 16, 2012
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