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Updated about 1 year ago on . Most recent reply
Create an LLC before purchasing first property
I am on the hunt for my first real estate investment. Would you say it's necessary to create an LLC to purchase the property?
located in Missouri, St.Louis area
Most Popular Reply
JD Martin
Property Manager
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- Rock Star Extraordinaire
- Northeast, TN
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Find something to buy and operate first, then start worrying about LLCs. I do not have one and we have a lot of years and a lot of properties. Good insurance and maintaining your properties will cover 99% of all contingencies, and don't be fooled into thinking an LLC is impenetrable when it comes to seizing assets.
Think about it this way: would you start collecting furniture for the house you're going to buy one day? Or would you buy the house and then fill it with furniture?
- JD Martin
- Podcast Guest on Show #243
Skyline Properties