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16
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Coleman Cox
  • San Diego
8
Votes |
16
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Benefit of LLC when starting out?

Coleman Cox
  • San Diego
Posted

What are the benefits of purchasing my first property/properties in an LLC if the bank is going to make me personally guarantee the loan anyway?

Most Popular Reply

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1,483
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Todd Rasmussen
  • Rental Property Investor
  • Clarksville, TN
1,420
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1,483
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Todd Rasmussen
  • Rental Property Investor
  • Clarksville, TN
Replied

@Coleman Cox

I think asset protection was meant as in if a tenant sues you. However, if you are personally making decisions that led to your liability, they would just sue you and your LLC. Get liability insurance and worry about LLC's business cards and websites after property number 1.

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