LLC in Florida for Real Estate

[Alon A.]

Hey guys 

I want to own like in next 2-3 years around 4-5 properties 


I spoke with somebody and he told me in Florida the creditor can do something and it’s not like other states , so he offered me to do something with holding in other state basically that protects it

You recommend to open LLC in Tampa and have the properties be under that name ?
what is the best way

thank you so much 

[Doug Smith]

Quote from @Alon A.:

Hey guys 

I want to own like in next 2-3 years around 4-5 properties 


I spoke with somebody and he told me in Florida the creditor can do something and it’s not like other states , so he offered me to do something with holding in other state basically that protects it

You recommend to open LLC in Tampa and have the properties be under that name ?
what is the best way

thank you so much 

 I'm wondering if they are referring to Florida's unlimited homestead protection. A homeowner's primary residence is protected from creditor that are not direct lenders on the home in an unlimited amount. They key word here is "homestead". Unfortunately, non-homestead property like investor property don't enjoy that same protection. I've been doing real estate lending (commercial and residential) in this market for 27 years, but I'm not sure what they're referring to. If your friend is talking about something else, I am not sure what they are referring to. Perhaps you can explain in more detail and we can try to help.