LLC time yet?

[Adrian Smude]

I'll start out by saying I've read some posts and talked with people which most say to focus on getting deals before an LLC, but of course I feel I am a little different situation so I'm asking for everyone's opinion. I currently own 1 rental property in my name, my wife owns our primary house in her name and our other rental house both our names are on the deed and her name only is on the mortgage. With all that said I feel I should start an LLC. I am looking to get into wholesale deals. Either way one thing for sure is we will continue to buy rental properties so I feel I should get the LLC striaghtened out before getting too deep into wholesale. I am meeting with some attorney's for opinions and legal advice this week, but wanted advice from the Bigger Pockets community which may be smarter than who I end up meeting with.

[Mark Forest]

Originally posted by @Adrian Smude:

  I am meeting with some attorney's for opinions and legal advice this week, but wanted advice from the Bigger Pockets community which may be smarter than who I end up meeting with.

Please ask these attorneys how often the LLC "veil is pierced." I have read that any attorney can simply get to the owner/manager/partner of the LLC personally since they are the ones making the managerial decisions. Asking a lawyer if you need an LLC is a little like asking a barber if you need a haircut, but I hope they will be honest.

Having an LLC creates accounting headaches, and it means you can not represent the LLC in court even for something as simple as an eviction. If you have umbrella insurance I do not understand why an LLC is necessary. But then I could be wrong.