LLC or buy in your own name.

[Jamie Garcia]

Purchased my first property last year under my name. Want to expand my portfolio but wondering if it's better to create an LLC and buy under that or under my name. I live in Los Angeles. Any thoughts?

[Elizabeth Colegrove]

I actually wrote an article on this awhile ago, title crash and burn with an LLC's. So as you can tell by the title it didn't work for me.

• self-manage- so transparency exists and if an issue happens I still am accountable
• Mortgage- mortgage was still in my name, if I transferred it into the llc I was still liable for the mortgage AND it violated the mortgage. So in 5 years or 10 years when rates are redicuoul and banks are looking for way out. I see this becoming a problem
• Insurance- this is much higher and normals umbrella's don't fall under it.

Those were just the 3 "big" reasons. I recommend you talk to a Real estate lawyer to make sure this works for YOUR situation. I was told to look into trust but haven't had time.