Investment Company

[JT Williamson]

What are peoples take on setting up a corporation or something along those lines for their investments? Up to this point we have done it through our personal accounts. Are there any benefits to setting up a corporation for investments? such as tax purposes?

[Jay Hinrichs]

@Calvin Thomas  for the average BP poster or investor your scenario is Overkill to the extreme.

simple LLC with a nice umbrella policy will handle 99% of your issues.

and I am not sure were everyone gets this sue happy environment.. I have had rentals for over 35 years and have never been sued by a tenant.. but then again I am not a slum lord.. So it really depends on how you take care of your properties.

but I look at losing everything you have the same way I look at your going to get killed in an commercial aircraft accident. or you fall in a gaping hole in the middle of a huge earth quake or you get killed by lightning.. can it happen yes.. will it happen 99% it won't.

If you take care of your properties and were talking about landlord tenant disputes.. then I think the risk is next to nothing ... tenants by and large have no money to sue.. the only time you would be at risk is if your a very poor slumlord.  that's my take on it.