LLCs are good if you have a partner and there are a handful of scenarios where an LLC might be appropriate. 99% of investors here on BP dont fall into the category of benefitting from the protection of an LLC.

And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

It will create more administrative work for you than it will benefit you.

I would love to find out more about your expertise to gain knowledge about how we can be of benefit to each other.

Just getting my first rental and was wondering what the benefits of setting my LLC as a Nevada LLC instead of Virginia, where I live,or Baltimore Md where the property is .

And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

@Joe KimYes and you can also think it positively: you also have a new roof good for many years and you get some tax benefits too.

I am mentioning this is because if I ever needed some help from them financially in terms of repairs or emergencies, I would have the benefit of access to money without having to take out loans.

I am sure someone is investing in the Detroit market and when it turns around they will be in an excellent position to reap the benefits.

As a newbie, he might benefit from the security of not having a note to pay on a first property while he's getting his feet wet.