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Updated over 6 years ago,
Protecting assets with accountants and attorney
Hi Community,
I’m in the Bay Area and want to consult
with a real estate accountant and attorney about how to best protect my property assets. I have multiple homes in CA and FL that are in my name. I’m not an active real estate investor, but want to be because I have some cash available. Not protecting my current assets is 1 of many excuses I give myself to not buy out of state property. And I want to overcome this fear by confirming with some BP &!professionals. Also, I hope to grow my portfolio with this person. So I’m not looking for someone who will retire in next 5yrs.
I have talked with other REI. Many do not use LLC, because they say the cost and yearly filings are not worth it. They prefer to buy a large umbrella ($2-3million policies), which I think may not he enough because once plaintiffs know you have other property, they’ll will go after everythingSfFT. Does this not worry REI, especially in San Francisco area?
Back to my original question for the community: “who have you worked with to protect your homes from tenants?”
Thanks,