Lending Money for Flip from LLC or Personal Name?

[Corey Ladusky]

Hi!

Background - I am planning to lend money to a family friend (to his LLC) to do 2 flips. Once the flips are completed, I get a cut of the profits. We will be signing a promissory note to document this in writing. Note the promissory note states "Borrower agrees to hold Lender harmless from any and all liability arising from the construction and completion of the Project."

If it matters, i am in FL and their LLC & flips are in Arizona. And if the first flips are successful, we will do more together

Question - Should i loan the money through an LLC or just use my personal name? I want to protect myself from an liability or potential lawsuits...Today i do not have an LLC so would have to go through the hassle/costs to create one but am willing to do if needed.

Also is there any need to get some type of insurance for this? If so, what would i be looking for?

Big thanks in advance to everyone!!!