Properties in LLC or creating a DBA for each?

[Account Closed]

So I have a question. I have 2 properties under an LLC, and I would like to purchase more properties in the near future. I know there are alot of forums on here about LLCs, Incs and DBAs. But I don't know if this has been asked.

Should I create a DBA for each property I buy. For example if I have an LLC (eg. John Doe Properties, LLC) Then I buy 3 properties should I create a DBA for each one such as:

John Doe Properties, LLC doing business as:

DBA: Green House Property
DBA: Blue House Property
DBA: Main Street Property

or should I just put then under the one LLC?

If I did each property as a DBA, would I then have to open a bank account for each property?

Also If I were to put the properties under their own DBA, and lets say something happens and I get sued by a tenant would they be able to go after the LLC or only the DBA or both?

Thanks,

Ivan

[Joe Bertolino]

Consult a RE attorney but my understanding is that a fictitious name (aka a DBA) provide no separation from the entity. To provide separation you would need to form separate LLC's for each property or combination of properties. You can have as many DBA's as you like but if all of the properties are held in a LLC then the assets of the LLC are in play. In my opinion it is cheaper and easier to get a great insurance package (broad coverage and high limits) than to form and manage separate entities for each properties but I am an insurance guy... CPA's and Atty's like forming and managing multiple LLC's.