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Updated over 5 years ago on . Most recent reply

Coleman Cox's profile image
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Coleman Cox
  • from San Diego
  • Member since Jul 29, 2019
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Coleman Cox's profile image
Coleman Cox's profile image
Coleman Cox
  • from San Diego
  • Member since Jul 29, 2019
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Coleman Cox
  • San Diego
8
Votes |
16
Posts
Buying & Selling Real Estate

Benefit of LLC when starting out?

Coleman Cox
  • San Diego
Posted

What are the benefits of purchasing my first property/properties in an LLC if the bank is going to make me personally guarantee the loan anyway?

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Todd Rasmussen's profile image
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Todd Rasmussen
  • Rental Property Investor
  • from Clarksville, TN
  • Member since Nov 12, 2016
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Todd Rasmussen's profile image
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Todd Rasmussen
  • Rental Property Investor
  • from Clarksville, TN
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Todd Rasmussen
  • Rental Property Investor
  • Clarksville, TN
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Todd Rasmussen
  • Rental Property Investor
  • Clarksville, TN
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@Coleman Cox

I think asset protection was meant as in if a tenant sues you. However, if you are personally making decisions that led to your liability, they would just sue you and your LLC. Get liability insurance and worry about LLC's business cards and websites after property number 1.

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