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Updated almost 10 years ago on . Most recent reply presented by

Jimmy S.'s profile image
Jimmy S.'s profile image
Jimmy S.
  • Investor
  • from lehigh valley, Pennsylvania
  • Member since Mar 8, 2014
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Jimmy S.'s profile image
Jimmy S.'s profile image
Jimmy S.
  • Investor
  • from lehigh valley, Pennsylvania
  • Member since Mar 8, 2014
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Jimmy S.
  • Investor
  • lehigh valley, PA
22
Votes |
240
Posts
Tax, SDIRAs & Cost Segregation

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

Jimmy S.
  • Investor
  • lehigh valley, PA
Posted

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.

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