QUESTION
Purchasing a age restricted house for my stepfather.
Asked on May 01st, 2021 on Commercial Real Estate - Florida
More details to this question:
Hello! My situation is unique. I currently live in Orlando, fl (32821) and am looking for properties for my mother and stepfather to move down in about a year or so. There is an age restricted Comunity very close to my area that would be very affordable given my starting career and the closing of my stepfathers career. My parents do not have much money saved so I would like to benefit from the transaction by purchasing a home in this Comunity for equity as it will be my money that pays the mortgage. My questions is, could I set up a llc under my name, purchase the house as an investment opportunity, and then rent the house to my stepfather through the lcc? I understand that this is a “spitball” question, but my understanding of the laws are nowhere near yours so I am asking your advice. I hope to hear from you soon and I hope you enjoy your day! Thank you!
1 ANSWER
Ancillary Probate Attorney serving Miami, FL
at
Stephen R. Garcia-Vidal, P.L.L.C.
Update Your Profile
Yes, I think you can do what you want, but you should contact me at 305-283-4785 or sgarciavidal@garciavidallaw.com to discuss further.
Answered on May 04th, 2021 at 9:10 AM