BRRRR Should I set up an LLC or get an Umbrella policy?

[Celine Besson]

I plan on starting my real estate portfolio very soon and I'm interested in the B.R.R.R.R method. I'm going to be using Cash to purchase the property outright. My question is should I set up an LLC now or is an Umbrella insurance policy fine to start with? I'm mainly confused about how it would work with Refinancing if it's in an LLC's name. The state I'm looking to invest in is Tennessee and I may move out of the country at the end of the year.

[River Sava]

I agree with @Ko Kashiwagi in the sense that you can transfer the deed to the LLC during the refi but it might be easier to go ahead and set it up at the beginning of the process.

It really is up to you, as an LLC can provide personal liability protection, separating your personal assets from your business assets. 

Happy to answer any further questions.