need separate LLC's?

[Christopher Poirier]

I hold rental properties in an LLC, I will be filping houses pretty soon and want to put the flips in an LLC. Is there any reason i should not use my current LLC to hold the flips?

[Robert Gilstrap]

@Michael Evans took the words out of my mouth and is spot on. Land trusts holding each property individually with a few LLC's spread out as beneficiaries works wonderfully since they are completely private. Once you get educated on trusts you will never use anything else (as your 1st level of ownership).

@Calvin Ruth what good is a million in umbrella coverage when you get sued for 6 million? Insurance without legal entity protection is worthless.