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Updated 9 months ago on . Most recent reply

Taylor Cook's profile image
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Taylor Cook
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Taylor Cook's profile image
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Taylor Cook
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Taylor Cook
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Buying & Selling Real Estate

Should I Quit Claim into LLC?

Taylor Cook
Posted

I am really having a hard time deciding if we should keep our rental in our name or quit claim. Is there anyone on here who did not quit claim and is ok with having property in personal name? This is a four apartment rental property. 

Denver, Colorado
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Rick Albert
  • #2 House Hacking Contributor
  • Real Estate Agent
  • from Los Angeles, CA
  • Member since Apr 26, 2018
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Rick Albert's profile image
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Rick Albert
  • #2 House Hacking Contributor
  • Real Estate Agent
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Rick Albert#2 House Hacking Contributor
  • Real Estate Agent
  • Los Angeles, CA
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Rick Albert#2 House Hacking Contributor
  • Real Estate Agent
  • Los Angeles, CA
Replied

When I thought about it I spoke with my mentor to get his thoughts. He said that every time he has been sued over the years, even though there is an LLC, he was always ALSO personally named, so he still had to deal with it.

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