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Updated over 6 years ago on . Most recent reply
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Rentals, LLC's, and Bank Accounts.
I am new to real estate investing , and I am wondering how others structure each of their rental properties.
1) Does each rental have its own LLC?
2) Do you create separate bank accounts for each property, under the LLC?
3) Can you share any helpful resource that can explain how to organize this aspect?
Thanks!
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An experienced attorney once said trusts were the best way to segregate and protect assets. Each property in a separate trust with your LLC as beneficiary . The trust is published legal owner but the terms of who gets what from the trust is private. For added layer have a separate LLC act as property manager for all the trusts to collect rent and pay all bills and pay you the profits.