All Forum Posts by: Ed Zhao

@Steve Vaughan thank you for the reply, yes, I start about 20 years ago and they are mortgage free. Simple buy and hold what i can afford. As I will continue to buy more, I see the problem of each llcs will get bigger or I need to set up more llcs which means more costly...

@Johnny Weekend thank you for the information, it sounds like a good solution. I will look more into it. Thanks again

Currently I had ten rentals in bay area California, most being duplexes and fourplexes. In the past, I hold these rentals under my name. I had a $5M umbrella policy to protect myself, at least that is what I think. However, about a year ago, I was suggested to set up LLcs to separate them so I can have a better protection. I divided them into three different parts which about equal values, I then group them into three different LLCs. In the hope that something happen I don't have to lose all. Sounds like a good idea, but here is the painful part, It is so costly to up keep these llcs. Not only need to pay $800 each for taxes, insurance also goes up so much because now under business name. Accountant also charged $1000 each LLC tax returns. As you can tell, it adds up a lot. I am sure there are many people own many rentals, how are you holding them? Is holding in different llc is the only way or there are some other ways work better? Thank you all in advance to enlight me .