Owning another business while investing in Rentals

4 Replies

Hey all, my father and I are looking into buying some rental property together in Columbia South Carolina. The question I have is if there is anything special I need to look out for as my father does own his own business.
By this I mean is there anything special we should do to protect the business from any real estate repercussions and vice versa? As well as any other advice you think I need to hear about this situation.


Set up a separate LLC and have your attorney verify that there is a clear vail of separation. I own a business and two property holding companies. My only mistake is that I've used one in the past to help the business when it has some issues that required a cash injection.

The best structure is to set up an LLC that will be the member and manager/operator of each property LLC.

Always put each property in a separate LLC. This keeps liabilities limited to the property LLC

@Carter Bushman

Check into forming an LLC and potentially have an attorney draft an operating agreement.

You can probably get some great tips by consulting an attorney and tax pro regarding the implications of the entity. Many of those professionals provide complimentary initial consultations.

Good luck!

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