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Updated almost 11 years ago, 02/14/2014
Entity for investing in a mobile home park fund/LLC
I am planning to invest in a Fund (set up as an LLC) that buys mobile home parks. I would be buying "Class B Shares." I would be a Class B Member of the LLC that owns the shares (Class A members are the ones setting up the offering.) Profits are split between the group of Class A members and the group of Class B members.
I want to make sure that if the parent LLC gets sued, then my individual self and my S-Corp (for a business unrelated to real estate) has limited exposure to the litigation. Perhaps the structure actually limits my liability and I don't have to worry about this?
Thanks,
Jeffrey Kovnick