Best Property Holding Entity - Inc, LLC, Sole Prop?

[Tj Hulse]

When should you start? Best advice and what are the advantages?

[Patrick Liska]

Todd,

That is a question that has been asked many times, and if you do a search on the site, i'm sure you will get a lot of different answers. there are many different directions that you can go, some will say to keep it in your personal name but have real good insurance with an umbrella policy. some will say hold the properties in a land trust or self directed IRA. as far as LLC's some will say have one llc that holds a couple of properties is fine and it all depends on your situation, the State you are investing in and the protection you feel comfortable with. I personally have each of my properties under it's own llc and i bought the properties that way, so the house, loan and insurance are all under the llc. I would recommend you sit down with a CPA and an Attorney and figure out what the best direction for you would be.