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Updated about 10 years ago on . Most recent reply

Mike McConnell's profile image
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Mike McConnell
  • Investor
  • from Kennesaw, Georgia
  • Member since Mar 24, 2015
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Mike McConnell's profile image
Mike McConnell's profile image
Mike McConnell
  • Investor
  • from Kennesaw, Georgia
  • Member since Mar 24, 2015
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Mike McConnell
  • Investor
  • Kennesaw, GA
2
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6
Posts
General Landlording & Rental Properties

Separate LLC for each rental

Mike McConnell
  • Investor
  • Kennesaw, GA
Posted

#BrandonTurner mentioned he has a separate LLC for each of his rentals. Have you setup an LLC for your rentals, if not one for each? If so what is the benefit?

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Shawn Thom's profile image
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Shawn Thom
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  • from McKinney, Texas
  • Member since May 22, 2012
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Shawn Thom
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  • from McKinney, Texas
  • Member since May 22, 2012
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Shawn Thom
  • Investor
  • McKinney, TX
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Shawn Thom
  • Investor
  • McKinney, TX
Replied

All I see is a paperwork and tax nightmare. the benefit is that you shield your assets separately. But at what cost? Separate bank accounts for each LLC, separate tax return. I think a good umbrella liability policy would cover most things better. Seems like a lot of work for just one rental.

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