All Forum Posts by: Neil Goldman

@Jon Pitcher any suggestions on what type of insurance we should examine? 

BP friends, seeking your advice. A friend and I are diving headfirst into real estate investing. Our goal is building a successful investment portfolio. I bought/financed our first rental. He bought/financed the second one. Both units were bought as individuals (as I've learned its hard to finance under a LLC). Now, I'm trying to see if I can bundle everything under a LLC for asset protection. Here is what I'm trying to decipher:

1. With mortgages at big bank(s), is it possible to shift these properties under a LLC?

2. If not, do you recommend adding each other's names to the title(s)? Any other recommendations?

3. Is a biz bank account necessary - or can we flow finances thru a standard consumer checking/savings account?

Obviously, we are building operating agreements to protect the partnership.  My concern more so relates to liability ensuring both of us are protecting our other personal wealth/investment/businesses.