Can I use an LLC for My Personal Residence? (pros and cons)

We teach people how to form LLCs in all 50 states: https://www.llcuniversity.com

Using an LLC for your personal residence has some pros and cons. In this video we'll discuss what you need to do in order to purchase the real estate in the name of the LLC.

The related video I mentioned about "when to form an LLC for real estate" can be found here:    • When to Form an LLC for Real Estate?  

If you already own your home in your personal name, you'll need to transfer title to the LLC. This means you'll need to contact a local title company and calculate all the closing costs. You'll also need to talk to the bank to see if it's even possible (it's not likely in most cases)... so it's best to transfer title when you own the house free and clear.

On the other side, if you haven't purchased your home yet, you'll want to weigh the pros and cons (and speak with an attorney and an accountant) to see if this is a good strategy.

Your insurance policies will need to change, as well as your utilities (you'll need to transfer them into the name of the LLC).

There are a lot more details involved, so treat this information as an overview, not a comprehensive plan.

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