LLC Question with Partners

[Caleb Smith]

Scenario: I currently own a SFH with two partners under an LLC.

If we are wanting to purchase another property this year, do we create a brand new LLC or do we put it under the same entity?

I assume we want to keep different bank accounts for each property to keep it all separate, but what would be the best way to go about it?

[John Leake]

In my mind if all partners are staying the same you could maintain the current structure and banking, essentially you are just adding a property to the LLC. I also think the value of the assets in the LLC should be a factor for consideration in the future. So 2-3 single families isn't too big of a value but if you were adding a 50 unit I would have some concerns about not having the assets a little more segmented. That is my general thinking but getting some attorney or CPA's to weigh in would likely be your best bet!