Why do you need a LCC if your networth is in real estate?

[Jimmy S.]

I Talked to very many people, investors, lawyers and other fellow landlords.

Some say a LLC is a must and other says its a complete waste of money and a umbrella policy for 1 or 2 million is the way to go including a few attorneys.

If your a real estate investor most of your networth is in all your properties right? For me 80-90% of my networth is in all my rental properties so why do I need a LLC if they can only sue the LLC which is basically everything I own anyway.

Any thoughts or advice is greatly appreciated.