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Updated almost 11 years ago on . Most recent reply

Adam Craig's profile image
Adam Craig's profile image
Adam Craig
  • Investor
  • from Cleveland, OH
  • Member since Aug 16, 2011
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Adam Craig's profile image
Adam Craig's profile image
Adam Craig
  • Investor
  • from Cleveland, OH
  • Member since Aug 16, 2011
Connect
Adam Craig
  • Investor
  • Cleveland, OH
130
Votes |
603
Posts
Tax, SDIRAs & Cost Segregation

Is LLC necessary with umbrella?

Adam Craig
  • Investor
  • Cleveland, OH
Posted

Just took out a $1mil umbrella policy to cover my 3 single family homes. It only cost $323/year and seems like less work and tax prep then opening multiple LLC's.

What are the disadvantages and risks of going this route. I know some people do a LLC with each property, some do umbrella, and some do both - is that overkill?

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