Forming an LLC

[Eric Osbourne]

I'm going to get my LLC going but just not sure where at.

My local REIA has a class for $349 given by an attorney and at the end of the class all paperwork is filed and your LLC is ready to go. It sounds cheap enough and all the bases seem to get covered.

Then there's also LegalZoom, I think it's around the same price.

Any suggestions or recommendations?

--Eric

[Will Barnard]

Originally posted by Eric:

-to keep my rental properties and personal affairs separate

Just remember Eric that the seperation from business to personal is not absolute. Basically, the LLC protects you personally from the asset, but not the asset from you personally.

Example, if a tenant falls and dies on your property, the LLC is sued and not you (unless you were proven to be negligent or the corporate veil was pireced somehow).
If you kill someone's kid while drunk driving, you and your LLC assets are on the line.