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All Forum Posts by: Neil Dhulesia

Neil Dhulesia has started 0 posts and replied 3 times.

Milwaukee Real Estate Forum

Post: New Member Introduction - Milwaukee Area

Neil DhulesiaPosted
  • Frisco, TX
  • Posts 3
  • Votes 5

Welcome to BP! I'm new to BP as well, but slowly figuring out my way around the forums. Feel free to reach out to connect or ask questions.

0 Votes
Milwaukee, Wisconsin
Milwaukee Real Estate Forum

Post: Need an agent in Milwaukee that owns rental properties themself

Neil DhulesiaPosted
  • Frisco, TX
  • Posts 3
  • Votes 5

Marcus Auerbach is a name I've heard across multiple threads as well. He seems to have a great reputation on this forum and is likely familiar with what investors are looking for. I'd start with him.

3 Votes
Milwaukee, Wisconsin
New Jersey Real Estate Q&A Discussion Forum

Post: Pros and Cons of a LLC vs umbrella insurance for rental property

Neil DhulesiaPosted
  • Frisco, TX
  • Posts 3
  • Votes 5
Originally posted by @Colleen Goldstein:

This has been posted a lot and would recommend looking back at other discussions on the topic. Love Umbrella policies and LLCs are useless for liability protection (unless you are abiding by all business rules). Check out "piercing the corporate veil" and you will quickly see why the Umbrella policy is preferred for small to medium size landlords.

I'm a newbie investor, but all of my research thus far confirms what Colleen said. If you google "piercing the llc veil", you'll find several articles on the issue. The biggest challenge is likely maintaining the separate identities of the company and its owners/shareholders. I'm assuming most investors won't maintain this distinction and will instead commingle personal and business funds or misuse business assets as personal assets, rendering the LLC useless.

2 Votes