We just got our first rental and we want a second one

[Abraham Mendoza]

Hello guys! (Phx AZ)

My wife and I just recently got our first rental property! Should we get an LLC now or wait later down the road when we have more properties ?

Also, we want to try and get our second rental but we don’t have much capital. Any ideas ?

[Dave Spooner]

@Abraham Mendoza Daniel already gave you great advice and I'd echo it - contact an attorney and CPA (you should have them in your rolodex anyway if you're a new real estate investor).

An LLC would only be worth it if you want to purchase properties with investors beyond just you and your wife or if you have a lot of assets outside of the property you're looking to protect.