LLC for just a few Rentals or Better Insurance?

[Mike S.]

If you have just a few rental properties is iy worth having an LLC for each or fo i just up ky insurance. My acvountant always tells my accounting for doing taxes will get way more complicated (more money)

[Michael Norris]

An LLC is not a substitute for quality insurance it just adds an extra layer of protection and the possibility of tax benefits as well as some privacy.

That said an LLC is not bullet proof. If you have a liability claim situation and the attorney for the other side is taking a negligence angle against you there is a possibility they can pierce the LLC and come after you personally above and beyond what your insurance policy pays out which is why having a quality insurance policy up front is the best defense.