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Updated over 2 years ago,
How to structured your entity
Hi,
Have a stupid question. For example, you have 4 properties. Now you want to do BRRRR with 2 properties with a refinancing cash out. Now my question (sorry if i'm noob). How to structure or create an entity that you only loss those 2 properties while keeping the rest in your name if something bad happens such as bankruptcy. Coz i know that once you file bankruptcy chapter 11. They will liquidate your assets. If the assets meet the amount they need then they won't touch the others. Otherwise, they will get their hands on the others.
Now the same question apply with accidents on the property. Is getting umbrella insurance sufficient. I heard from many that you need to put each prop into an LLC entity. Bt i think it is too much process and difficult to scale coz if you get up to 50 props (for example), then you need to get 50 LLC entity. Too much