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Updated almost 8 years ago on . Most recent reply
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How do you hold your investment properties?
hello all,
We are on our third investment property and i was trying to find out how investors with multiple properties protect their assets from liability. Of course theres liability insurance but beyond that, do you keep all the properties under one LLC or separate LLCs for each? Do you put them in a land trust?
A lawyer suggested separate LLCs to me so if something happens on one property, the rest wont be affected. What are others doing to limit liability?
Thanks!
Martha
Most Popular Reply
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@Chris thanks for your reply. Yeah, i guess our concern is that all our properties have good equity and cashflow well and we wouldnt want to lose any of them.
I was told the land trust would be good to hide the identity of, the owners so people wont know what we own in the event of a lawsuit. But the lawyer said the tradeoff is that we are putting our assets in the hands of a trustee which could technically sell the property without us knowing. So he suggested multiple LLC's and of course, liability insurance.
What is your opinion on land trusts?
Martha