Posted by Joe on February 12, 2007 at 14:10:02:
The property should be purchased by the land trust. The beneficiary of the trust can be an individual, an LLC or a corporation. If you plan on flipping the property, use a corp. because you avoid self-employment tax. If holding as rental property, use an LLC, because rental income is passive (avoiding self-employment tax) and the LLC is taxed like a partnership, thus avoiding double taxation of a corp.
LLC or Land Trust - Posted by JP
Posted by JP on February 11, 2007 at 11:30:54:
I’m buying some investment property in South Carolina. I am buying it under my name but want to transfer it after. Should I use an LLC or a Land Trust or both. Where should I purchase these and expect to spend? I live in CA.
Re: LLC or Land Trust - Posted by JL
Posted by JL on March 10, 2007 at 08:38:45:
I purchased several properties last year. Will lender request payment of loan if they find out I transferred Title to Land Trust and benficiary is my LLC? If I do so, what do I need to do if I want to Refi an dcash out for another investment? Thank you!