Hello, do you recommend setting up a separate LLC for each investment property?

Unless each property is worth millions, no. Easier & cheaper to have 1 LLC & a large umbrella policy.

@Elsa Carballo Hi Elsa. A Series LLC may be the way to go. To expand on Edwards post, while not every state can set up the Series LLC entity, you can use the Series LLC to hold property that is located in any state in the US. My top picks for entity creation are Texas and Delaware because both have lower costs, operational benefits, and some other perks that you won’t see in other states. You can learn more details about these benefits from this BP article of mine on the best states for forming LLCs. The information in that article holds true to the Series LLC as well. There are a couple of requirements, such as using a Registered Agent, that out-of-state company owners must be mindful of. This is all the more reason to enlist the help of an attorney with experience forming Series LLCs--most of the time, that attorney can serve as your Registered Agent and address any other legal requirements specific to your situation. You can leave a reply or DM me if you have more questions. - Scott

For me it depends, a 10 unit building will be separate; but I also have duplexes that are not even in an LLC. It is just how it turned out. My lawyer advised keeping properties of a similar size/value together and 3 per LLC. LLC's are also about order and ease of bookkeeping. If you maintain separate bank accounts and credit cards per LLC your accounting is really simplified. The most important thing about protection is liability insurance. No matter how many LLC's you have you can still be named in a law suit.

Do you mean property value? Free cash flow? Or equity? I reference the amount of equity an investor has in each property for determining how much is at risk by combining properties.

@Elsa Carballo No. And then, no.

Thanks so much for your responses! I will speak to my lawyer about series LLC since I am in NJ.

Do you need LLC per investment property?Do you need LLC per investment property?

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Do you need LLC per investment property?

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