investment property as an llc?

This forum is for mortgage related questions...you need to consult with a CPA and or real estate attorney for the questions you have here. You can not under any circumstances get a mortgage loan in the name of an LLC. What you can do is get the loan in your personal name (or names if more than one investor) and after it closes then you can deed the property into an LLC.

I'm not a Licensed real estate broker either, I have 8 rental properties, and they are owned by me, not an LLC.. I write off EVERYTHING.. and I've owned, rented, and sold real estate for over 25 years.. your question makes no sense.. you can write off taxes, insurance, interest, advertising, repairs, maintenance, management fees, depreciation.. etc.. how much money you make on your day time job has nothing to do with whether you can write off your costs or not.. Now if you're talking about your PRIMARY residence.. then, you can still write off the mortgage interest and depreciation, however any repairs, or remodeling can only be written off when you sell it, and you're not allowed to write off your maintenance... if your questions is "if you put your primary residence into an LLC, can you take deductions", then the answer is maybe.. you would have to pay market rent to yourself and claim it as income, but by doing that, you can write off everything.. I'm not sure there would be enough gain to make it worth your while, but it's possible... but saying you cannot take deductions because your not a broker, and make too much.. Nope.. im not buying it.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

An LLC is a business. Take any and all your proper business deductions. Consult your tax professional for better details.

Ok.. I stand corrected.. After lengthily conversation with my own CPA, I have learned that if your AGI is above $150K (married or not), then you cannot write off the expenses in that given year.. They accumulate, and any year that you drop below the $150K, you can write off up to $25K in the same year.. if you never get below the $150K, then the accumulation will be washed out when you sell your property.. and you can take all your deductions in the year you sell... and unfortunately the Passive Loss rules applies to individuals, LLC's, INC's, S corps, C corps.. Etc... So by selling your property to an LLC, will not exclude you from this rule.. When I talked to my own CPA, she informed me that on my own tax returns, we had also in fact "carried over" losses for many years.. But since I rarely hold on to a property for more than 3 years (until lately), then we were able to capture the losses from previous years to offset the capital gains from when they were sold... so... if my previous responses seemed to question your inquiry.. I apologize.. I could tell by your response that you are not an idiot and somewhere you were getting this info for what seemed like a reliable source, so that prompted me to dig a little deeper.. so, again I stand corrected, and apologize.. William