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Updated about 10 years ago on . Most recent reply

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6
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2
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Mike McConnell
  • Investor
  • Kennesaw, GA
2
Votes |
6
Posts

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?

Most Popular Reply

User Stats

588
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224
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Shawn Thom
  • Investor
  • McKinney, TX
224
Votes |
588
Posts
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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