I was wondering after I start investing into properties what would be a good sized portfolio to start forming an LLC with, or maybe what income level should I start to form a Allc
There is no set limit. If you are a solo investor you could forego the LLC altogether with enough liability insurance. I am about to close on my second SFR and I own four multis for a total of 26 rental units. I also have a SFR with some family members. Its all under my personal name. Its a matter of assessing your situation and doing what you think is right. Some people read what the "gurus" have to say and they spend the money on an LLC before they buy their first property.
If you're investing in real estate then I believe 1 property in your personal name is one too many. I buy everything under an LLC. When I started I had one. Now I just buy under a land trust with my LLC being the beneficiary. A few other investors I know create an LLC for each individual property that they keep under one big umbrella LLC.
I formed an LLC for one reason really.....image. It can make you look more professional and bigger than you really ar in the eyes of many.
I own 42 units spread across 16 parcels. All owned through a single LLC.
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