Different LLCs for each Buy and Hold Properties
I am in the process purchasing 4 -2 families homes- should I get 4 different LLCs for each home or just make one for all properties. Please advised.
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@Donna Paul several attorneys I know say its not necessary to get LLCs at all, as the average suit is less than $1000, unless you are totally negligent on how you operate. I always carry a ton of extra ins to cover issues that would be in harms way. But, if you wants LLCs, I suggest one umbrella and not one for every property. I have had LLCs for each properties, but one concern is that you have to do a tax return for each one. So, with K1's, and biz registry fees, I don't really see the need unless you have multiple investors, which in that case I believe is smart.