Some people do an LLC for each rental to separate out the liability and then one management company LLC to manage the rentals. I suppose that is technically the "safest" but it costs money to set up and in ongoing fees. That plan doesn't work for everybody. I would say get $3m or $4m umbrella and then at least one LLC at a minimum though. Wyoming and Nevada seem to be the most popular states to incorporate these days due to the way the laws are written in those states. Definitely hire a lawyer familiar with asset protection and real estate and just some attorney who can set up an llc or LegalZoom or anything like that. Get an EXPERT.
Statistics: Posted by Bobby206 — Sun Apr 14, 2024 3:36 pm — Replies 11 — Views 979