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Updated about 3 years ago on . Most recent reply

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26
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10
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Denver Chavez
10
Votes |
26
Posts

Setting up an LLC for our rental investing

Denver Chavez
Posted

Hello!

My partner and I have decided to create an LLC for our rental property investing. However, we are not sure if we should hire a professional (Lawyer), an LLC service company or set it up ourselves. It seems pretty straightforward to set it up ourselves but we also want to make sure its done correctly so that it offers us maximum protection in the future. If anyone has any advice, we would greatly appreciate it. Thanks!

Most Popular Reply

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22
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23
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Jonathan Dickerson
  • Rental Property Investor
  • Aurora, CO
23
Votes |
22
Posts
Jonathan Dickerson
  • Rental Property Investor
  • Aurora, CO
Replied

@Denver Chavez. Your use of the word "partner" = you should definitely use a lawyer. And while there, you should draft the legalese necessary to dissolve that partnership. Not because all parentals fail, but because, over time, both of you may not precisely remember what the other said 5-10 years prior. In writing makes it clear for everyone and that avoids so many hassles later.

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