Rental business LLC?

[James Collins]

Hi,New guy here hope I'm posting in the right forum.

My question is for my Mothers rental business.She owns 12 houses free and clear.And has a large mortgage against her home.

I have been telling her she needs to split her business up into several LLC's.To protect her home and business.She will not listen to me.

What do you all think?

[Jeff S.]

James, if she will not listen then what is the point? Does she have an attorney and is she competent? If you suggest she seek legal counsel you have done your job IMO. It is funny how kids think they need to control their parents. She has done pretty well on her own.

If I were you I'd be focusing on building your own portfolio. Maybe at some point she will want to sell and you can pick them up at a good price.

Don't feel bad my parents never listened to me and did just fine. After all, it is their stuff and if they choose to lose it in a lawsuit they have that right.