Create a Property Holding LLC and Invest in Real Estate
Real Estate Wealth Building Strategy
Investing in real estate is nothing new. However, there are smarter ways than others to own property. One of the common services we offer to our clients is to create a property holding LLC.
An LLC, or limited liability company, can be organized under the Connecticut Limit Liability Company act for almost any legal purpose. A limited liability company shields it’s members from liabilities associated with the the actions of the LLC (with some exception). Therefore, instead of holding the property as an individual or individuals, and exposing themselves to liability, property investors can minimize liability by owning the property under an LLC.
Property can either by transferred directly into an LLC via Deed, or the LLC can be funded and then purchase property. The LLC can then sign leases with tenants to rent the property, creating income while paying off equity. Any fees such as taxes, sewer or water use, insurance, maintenance, etc., can all be paid out of the LLC as an expense of doing business. The LLC members can chose to reinvest any income, or pay themselves a salary from the LLC.
At any time, property from the LLC can be sold by the members. Also, the LLC can be sold in whole as a business entity, along with all of the property. If the LLC is creating income from it’s rentals the value of the LLC can be significant.
At the Law Office of Eugene Glouzgal we help our clients form and fund their LLCs, we can help draft and records deeds to transfer property into the LLC, we can handle all of their required filings with the State, we perform the closings on the properties they want to purchase or sell, we draft custom lease agreements, we can handle evictions for non-paying tenants, and we can handle the sale of the LLC when they ant to make their exit.
Contact us today for a free consultation on how we can help you build wealth by creating a property holdings LLC so you can invest in real estate while being protected from personal liability.