Should i get a LLC for my first property

[Quinton Bogle]

I'm fixing to buy my first property, it's a single family home im going to make a Rental, but I was wandering should I get an LLC before I purchase it

[Rex Celle]

@Quinton Bogle If you plan on accumulating properties in addition to the one you are buying, then yes it would be advisable to form an LLC to protect your personal assets should anything go wrong where damages go above and beyond your insurance liability coverage. I would say that the most important action to take in buying your first property (with or without an LLC) is purchasing insurance from a credible carrier such as Lloyds of London who specializes in investment properties, and structure the policy where liabilities are capped at $1 million. Most likely damages won't go beyond this number and plaintiffs/tenants are unlikely to be awarded more than this amount.