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Updated over 9 years ago on . Most recent reply

Daniel Highsmith's profile image
Daniel Highsmith's profile image
Daniel Highsmith
  • Investor
  • from Cross Plains, Tennessee
  • Member since Jun 21, 2016

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Daniel Highsmith's profile image
Daniel Highsmith's profile image
Daniel Highsmith
  • Investor
  • from Cross Plains, Tennessee
  • Member since Jun 21, 2016
Daniel Highsmith
  • Investor
  • Cross Plains, TN
12
Votes |
59
Posts
Insurance

LLC or Umbrella Policy

Daniel Highsmith
  • Investor
  • Cross Plains, TN
Posted
I have one SFR and plan on getting more. Should I move this rental (and others) into an LLC or buy an Umbrella Insurance Policy on it? I have insurance on the rental already and I'm not worried about the "due on sale" clause that might happen when transferred to an LLC.
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Arpan Patel's profile image
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Arpan Patel
  • Investor
  • from Chicago, IL
  • Member since Apr 14, 2010

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Arpan Patel's profile image
Arpan Patel's profile image
Arpan Patel
  • Investor
  • from Chicago, IL
  • Member since Apr 14, 2010
Arpan Patel
  • Investor
  • Chicago, IL
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Arpan Patel
  • Investor
  • Chicago, IL
Replied

Why not both? Umbrella doesn't give you asset protection and LLC doesn't give you any assurances. Podcast 109 with Attorney Scott Smith I think has some great info on this.

-AP

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