When is the best time to get an LLC?

[Cinnamon Russell]

Hello BP

Rookie here, I currently rented my first property and I wanted to know if it's worth having an LLC on one property or keeping it in your name until you have several units?

[Nadeem Alamgir]

@Cinnamon Russell

For just one property, most investors keep it in their own name and rely on solid insurance or an umbrella policy for liability protection. Setting up an LLC adds cost, paperwork, and headaches, which usually don't make sense until you've got a few more units. Once you start to scale, that's the time to sit down with a CPA or attorney to figure out the best structure.