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Updated about 5 years ago, 09/11/2019
Any other ways besides LLC to hold titles?
Currently I had ten rentals in bay area California, most being duplexes and fourplexes. In the past, I hold these rentals under my name. I had a $5M umbrella policy to protect myself, at least that is what I think. However, about a year ago, I was suggested to set up LLcs to separate them so I can have a better protection. I divided them into three different parts which about equal values, I then group them into three different LLCs. In the hope that something happen I don't have to lose all. Sounds like a good idea, but here is the painful part, It is so costly to up keep these llcs. Not only need to pay $800 each for taxes, insurance also goes up so much because now under business name. Accountant also charged $1000 each LLC tax returns. As you can tell, it adds up a lot. I am sure there are many people own many rentals, how are you holding them? Is holding in different llc is the only way or there are some other ways work better? Thank you all in advance to enlight me .