Should I set up an LLC for each Property that I Purchase?

By
Real Estate Agent with Realty Direct Boston

What I think is that, this depends on your level of comfort with chance and probability. The more properties you hold in a single entity the more you risk your income being affected in a law suit. If you hold, for example say five properties in a single LLC , and that entity is sued in court by a tenant in property number three. All of the assets in the Single LLC could be affected negatively. Most people I presume would prefer to have one property per LLC, thus limiting the exposure to any single claim. 

Posted by

**********************************************************************************************

Information and Content in this blog is Original to Stephen Sainte-Martin .

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
122,058
Chris Hill
Century 21 New Millennium - California, MD
Your Southern Maryland Real Estate Professional

OK, so here's my 2 cents. #1 I AM NOT AN ATTORNEY!!! My personal opinion is that the more LLC's you have is probably better. I would definitely consult an attorney to determine your liability.

Aug 25, 2010 03:48 PM #1
Rainmaker
1,913,006
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the tip. If someone already owns a property can they set up LLC ?

Aug 25, 2010 03:50 PM #2
Rainer
64,782
Stephen Sainte-Martin
Realty Direct Boston - Boston, MA

Chris:

Thanks for releasing yourself from liability, but I agree with you.

Stephen

Aug 25, 2010 03:51 PM #3
Rainer
64,782
Stephen Sainte-Martin
Realty Direct Boston - Boston, MA

Gita:

Yes they can, but like Chris said, I am not an Attorney.

Stephen

Aug 25, 2010 03:53 PM #4
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
64,782

Stephen Sainte-Martin

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information