Originally posted by @Elizabeth Colegrove:
When we started out we were putting our units an LLC. Than I found out it was an awful idea because
- violated the mortgage (not a big idea now but gave mortgages a reason to come after you in a couple of years when rates were higher)
- no seperation- we self managed so we were unable to hide behind the llc, had we not been managing it, it would have been different
- Hard to get a Umbrella Policy- If it is under an llc you needed to have a cooperate policy much harder.
Honestly we just have all of our houses under our personal name. We have a large umbrella policy.
This is what I've been hearing as well. What structure should I use if I want to keep my identity private? I don't want tenants knowing that I am the owner since my property is worth many millions and I don't want to attract attention from criminals. I want them to think I am just the manager.
