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Updated almost 4 years ago on . Most recent reply
Brand New/ No experience/Concerned about legal issues
Good morning, I literally just signed up yesterday to BiggerPockets. I have no experience and no properties. I recently have started researching real estate investing and I am really interested and have the means to do so.
I am looking to BRRRR or something along those lines. After reading and research I have learned about tenants having the ability to sue you and how to use LLCs.
My question is how often does this happen? Is it really possible for tenants to go after your homes? Does that usually happen or if they win do they just get some money? I am not a fan of giving people power over my stuff, but I guess if you get into rentals that is part of the deal. I would hate to get into real estate and get sued just to lose everything. Obviously it can’t be that bad or people wouldn’t get into real estate in the first place.
Sorry for the long round about question. Thanks for your time in advance.
Matt