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Updated 8 months ago on . Most recent reply
LLC for rental unit
Hi,
I just started reading some books on real estate investing and wondering about the pros and cons of having a LLC for rental/investment property. Is it recommended to have a LLC and who can help creating a LLC (tax consultant or lawyer)?
Please share your opinion on this topic.
Thanks
Most Popular Reply
Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- New York, NY
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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- New York, NY
An Attorney will help with creating an LLC.
LLC is not required, may make getting financing more difficult.
It may provide some asset protection.
Most of the asset protection that you need will come from the insurance policy.
Discuss with the insurance agent on situations that you are not protected.
Have a discussion with an attorney if your extra concerns can be protected through an LLC.
- Basit Siddiqi
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- 917-280-8544
Basit Siddiqi CPA
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