Will a LLC really protect you?

[Michael Redmon]

Hi,

I own three SFH rentals. I have the max liability on each. A friend mentioned his rentals are in a LLC. I wasn't sure I wanted to go thru the hassle of dealing with an LLC and my lawyer friend says it wont really protect me if I am the one still managing the rentals.

Just curious what everyones thoughts are. Since I have a 16yr old driver in my house I can only get a 1M policy from RLI anyways, my insurance is giving me 500K on each house already. Maybe just start letting a property manager manage them as a extra layer of protection? The houses are all paid off so cash flow isnt a problem if I lose 10$ to a PM.

I did reach out to a real estate lawyer for a sit down on this subject. Just curious what you smart people think

Thanks in advance