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Updated almost 4 years ago on . Most recent reply
Whats the point of having a LLC when buying a rental property
What's the point of having a LLC when buying a rental property?
Most Popular Reply
Nathan Gesner
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- Cody, WY
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The primary reason is that it separates your business assets from your personal. Let's say your front steps are uneven and the tenant falls and breaks a leg. If the property is under an LLC, they would sue the LLC and the asset it owns (this house). They can't sue you for your personal assets. If you own the investment property under your personal name, they can sue you for all your assets, including your personal home, personal car, etc.
- Nathan Gesner
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