Sole Proprietor or LLC ?

[Jack Moreno]

My wife and I recently purchased 1 duplex and have it rented. We will be purchasing another long term rental (single family) before the end of the year and plan to BRRRR properties until level 1 of passive income is reached (7-8 years/10+ properties). Do we need to go ahead create an LLC or Series LLC or keep it simple and operate as a “sole proprietorship”?

[Brent Kiger]

@Jack Moreno Hi Jack, I created a series LLC after I had a handful of properties, which was a bit of an administrative headache. Since creating a series LLC really isn't much more work, and shouldn't cost much more, I wish I had just started with a series LLC from the beginning, or at least early on in my investing career. It's always easier to do it ahead of time instead of having to backtrack. Good luck!