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Updated about 6 years ago on . Most recent reply

Lawrence Morgan's profile image
Lawrence Morgan's profile image
Lawrence Morgan
  • from University Pl, WA
  • Member since Aug 7, 2017
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Lawrence Morgan's profile image
Lawrence Morgan's profile image
Lawrence Morgan
  • from University Pl, WA
  • Member since Aug 7, 2017
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Lawrence Morgan
  • University Pl, WA
8
Votes |
16
Posts
Starting Out

When should an investor start a LLC?

Lawrence Morgan
  • University Pl, WA
Posted

Newer investor in rentals. Wondering at what point should I start a LLC and have my properties transferred to the LLC? Hopefully in the coming weeks. I'll have my primary residence and then a renta property.

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Richard Sherman's profile image
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Richard Sherman
  • Rental Property Investor
  • from Salem, OR
  • Member since Dec 3, 2017
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Richard Sherman's profile image
Richard Sherman's profile image
Richard Sherman
  • Rental Property Investor
  • from Salem, OR
  • Member since Dec 3, 2017
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Richard Sherman
  • Rental Property Investor
  • Salem, OR
660
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696
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Richard Sherman
  • Rental Property Investor
  • Salem, OR
Replied

@Lawrence Morgan When your assets are over $1 million or so its time to move to an LLC, maybe less maybe more, but until then it is not worth the costs and complexity, you are better off just getting a good umbrella insurance policy. Insurance protection > LLC protection all day every day.

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