Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Emmanuoel Haroutunian
  • Van Nuys, CA
0
Votes |
2
Posts

New CA investor seeking advice - who helps with LLC vs trust?

Emmanuoel Haroutunian
  • Van Nuys, CA
Posted

Hi all,

I have several questions around how to buy my properties and I want to know what sort of lawyer helps with these kinds of questions (assuming it is a lawyer at all). I want to be able to google a specialized professional to help me answer questions like these:

* Should I purchase properties under an LLC? Trust? Irrevoable Trust? Both and place one under the other?
* How do I set things up so that if I pass, my wife, then after that, my relatives inherit these properties?
* How do I get taxed under each setup?
* Can I get the properties under my own name and forgo the LLC, but still get business umbrella insurance that covers 10 properties? If I get an LLC, can I cover multiple properties under an umbrella insurance? 

I'm essentially at a point where I can buy 3-4 $175K properties (credit score is very high, debt is very low, income is very good, lots of downpayment, etc). But I've not made any moves because I keep overthinking about how to approach my first few properties. If anyone knows what type of professional I need to seek, I would greatly appreciate it! Time to stop being passive and finally move things forward! :)

Loading replies...