Two LLC related questions

[David Little]

1) If I choose to create an LLC for each of my rental property investments, does each one have independent credit rating?

2) If I do have an LLC, what are the advantages / disadvantages to having the LLC own the property vs personally owning the property?

Apologies if these are ignorant questions. Thank you in advance!

[Chris Seveney]

@David Little

1. Owning real estate in a LLC and trying to build credit is somewhat fictional. Banks will not lend to a LLC unsecured credit like a credit card in significant quantity because you own a rental. If your business is actively doing fix and flips that's a different story

2. Owning each asset in a LLc is a pain. Since you need separate bank accounts, books, registration fees etc expect to spend and extra $1000/yr which if you cash flow $100/month its all done for using a LLc.

I have given my opinion 1M times on why it’s a waste of money to out a single family in a LLc but if that’s what you want to do not gonna tell you not to do it as it’s not my money.