Do I need an LLC to buy my first rental property?
Hi everyone,
I am a new investor in the Tri City area in Michigan. (Bay City, Saginaw, Midland). I am looking into multiple different multi and single family homes to start applying the Brrrr strategy to.
I am wondering, should I start an LLC in order to begin buying property? I have some concerns of "worst case scenarios" imagining a tenant sueing me for something rather than a business that can be liquidated quickly and closed if it went that badly. Newbie worries I assume. Anyway, what are everyone's opinions? Pros and Cons to each? Thanks in advance.