Real Estate Lawyer for LLC advice in St. Louis

[Todd Kozak]

I just purchased my 4th rental property, and currently own all properties under my own name...no LLC. I know there are different schools of thought on how to structure the business. Does anyone know a fair, reasonably priced real estate lawyer in the St. Louis area that I can talk to? I am buying for rehab, hold and rent.

I've heard different options:

One LLC for each property

Once LLC for properties in rehab and one LLC for all the rest of the properties

One LLC total

Skip the LLC, you have home insurance

[David Ounanian]

@Todd Kozak another thing you may not have thought of was getting an umbrella insurance policy to protect your assets as well. Most people don't realize that driving a car is way more risky than owning a rental property. It is more likely that you will get in a car accident than someone slipping and falling at a rental property and it is deemed the property owners fault. If you cause a car accident and hurt someone they can sue you and they can go after your LLC shares. The LLC doesn't protect you against yourself hence why an umbrella policy is probably more important than the LLC itself. Let me know if you need a referral to a good insurance broker.