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Updated almost 4 years ago on . Most recent reply

Megan Penman's profile image
Megan Penman's profile image
Megan Penman
  • New to Real Estate
  • from Kansas City, Missouri
  • Member since May 27, 2020
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Megan Penman's profile image
Megan Penman's profile image
Megan Penman
  • New to Real Estate
  • from Kansas City, Missouri
  • Member since May 27, 2020
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Megan Penman
  • New to Real Estate
  • Kansas City, MO
0
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Tax, SDIRAs & Cost Segregation

Starting LLC partnership vs sole proprietorship

Megan Penman
  • New to Real Estate
  • Kansas City, MO
Posted

I have two rentals, one in Missouri and one in Nevada- I need to open an LLC - I hear NV has better protection laws on properties- should I open the LLC there and create a serious LLC? I plan to purchase more properties in MO. Also- is it smarter to be a sole proprietorship instead of a partnership? I am married but we try to keep my husbands business/ income separate from the rentals- also for liability reasons. Advice?

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