Should You Put Your Primary Residence in a LLC? 

I hear you. In your case you should look into purchasing your home in a land trust but you need to verify if Georgia allows them. A land trust would allow you to own the real estate without your name appearing on public records.

In Florida, you cannot use a PO Box for the principal address, you shouldn't use it for your registered address, and you can use it for your mailing address. Check out other videos to understand the difference between these three types of addresses.

For this situation, your best course of action is to speak to a business attorney in Iowa to answer your question about liability because that is a matter of state law. As for the tax write offs, you need a CPA to advise you on that so they can analyze your entire financial profile and see how a LLC would fit for your situation. Sorry we can't be of more help on that.

Thank you! That's possible, but holding your residence in a LLC just to do it, contradicts the purpose of a LLC. So doing that may not grant you the personal liability protection you may be hoping for. Even if this wasn't the case, the lending products for real estate LLCs often have worse terms than products taken in your individual name. This is just from personal experience though. We are not mortgage brokers.

@@BryantTaylorLaw thank you very much for your thoughtful and informative response!

@@BryantTaylorLaw Would turning a 2nd home that doesn't see much use into a LLC work to do a 1032 exchange?

Yes you can. It's not ideal, but there's nothing inherently wrong or illegal with doing that.

@@BryantTaylorLaw I see. Thank you so much for your help! 🙏🏾

@@BryantTaylorLaw Hi, I have another question that I just thought about if you don’t mind. For my llc registration I put down a physical business building as the principal address, a P.O. Box for the mailing and for the managing Manager I put down my residential address which I really didn’t want to do so I’m wondering if there is an alternative? I’m wondering if for the managers address can I use the “real street address” that the post office now gives out (it’s the address of the post office then your P.O. Box number changes to a unit number so it now becomes a regular address for deliveries. Example “1 Applegate drive, unit 246, orlando fl” instead of “ P.O. Box 246, orlando fl”. If not, what about using the physical business building address as the mangers address? Thanks!

It's not as easy or simple as it seems if you want actual liability protection.