Real estate LLC
by Gig, Window Shopper
- Created: March 23, 2010, 8:09 pm
My wife and I and 4 of our closest friends want to pool our resources and purchase a large home in San Diego County. We are considering forming an LLC with the pass-through option so that we each get the tax benefits befitting our 'stake' in the home.
As this LLC is only for the purchase of our primary residence and the articles of organization are for the protection of each investor and to lay ground rules; does the LLC make sense or is there a better way to approach this endeavor?
The $800 per year LLC fee is painful but not a show-stopper because the AoO will stipulate how a person can leave the group, what happens if someone loses a job, and how to dissolve the LLC.
Any insight would really help me in this process - thank you, Doug
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