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Hi Everyone,
I am new here. I am also never owned a house until recently. I am Australian and live in Asutralia, however I have recently been gifted a property in the US. The property itself is not worth a fortune (about $50k), and from what I understand can be rent out for around $120-$150pw. I am hoping to have it leased soon. But my question here is, that given that I own the property without a mortgage, how do I use this equity to build a property portfolio? What are the benefits of an LLC etc? I feel kinda out of my depths.
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