First Time Investing With New LLC

far_hunter profile photo

Hi - I'm looking for some advice. I am getting ready to close on a property in January (my first investment property) that I will be fixing up and getting back on the market in March.

I've just established an LLC but am buying the property under my name since I started the process on the property before the LLC was completed - only in November.

Is it beneficial for me to transfer the property to the LLC before I put it back on the market? Would there be any tax advantage to doing this because I'd like to start buying properties under the LLC's name starting this year. Im not sure what to do with the profits after this house is sold under my name. I'd like to somehow transfer the profit over to the LLC - to a. Help mature the LLC and b. Avoid Capital Gains tax.

Thanks in advance - I suspect this is an amateur question! grin