How would you structure a 25+ rental portfolio?

[Travis Biziorek]

My wife and I have just started building our rental portfolio and plan to add 25+ properties in the next 2-3 years. We're closing on our first deal this coming week and don't have an LLC setup yet.

We're absolutely putting each property into a separate LLC, but would you have a "master" LLC too? I spoke with an attorney last week that "doesn't recommend" a structure like that because he doesn't believe it's "worth it".

I don't want to debate the merits of individual LLCs, no LLCs with umbrella insurance, etc. We're already sold on the LLC structure. But keeping separate bank accounts for each sounds tedious. Does a master LLC allow you to use just one bank account?

[Travis Biziorek]

Hey @Timothy Foley, we actually did NOT end up doing an LLC. We have an LLC that we setup, but we really use it to run all rents and costs through for better tracking. All of our properties are in our personal names for now. For me, the hassle of having a bank account for each property just wasn't worth the supposed protection.

That said, our last two properties (we have 12 now) were purchased in a new LLC. Now that we're getting close to our conventional mortgage limit we're looking at options with local, portfolio lenders that will lend to an LLC directly.