I started down the LLC real estate path early last year...Like the posts above say, the LLC part is easy. Register with the state of Texas, apply for an EIN from federal government and open a separate bank account using the LLC name and EIN. Make owner investments into the LLC bank account over a two month period of time. For the property loan to be in the LLC name, you need a private lender. I used Visio lending for my first property, which I found through a very good broker that knows the private market. You will pay a higher interest rate on the loans, but that is a tax write off. You can figure this out all on your own, but I prefer to work with experts, because I have a day job. I work with the broker to find the funding & insurance company & I found a very good real estate agent that is also my property management company. I'm closing on my second property this month. If you want to get into the rental business, make sure you look at it as an investment from: property appraising over time, rental income, tax write offs, equity that builds. Also on the cost side, make sure you account for maintenance, taxes & vacancies. I had land I bought prior to the LLC, but then sold it to my LLC to transfer the cost of owning and show additional assets in the LLC. My wonderful Aggie wife started a interior design company as a side hustle and I've since folded that into the LLC. My plan is to get the first couple of properties under my belt then open it up for other people to come on board as partners & investors.
