To LLC or to Not LLC

[Tyler Jahnke]

Hello BP Community!

I've heard many mixed answers to the question: Should I put my properties under an LLC or not? I'd love to hear the PROS and CONS of having an LLC or owning property personally.

Thanks!

-Tyler

[Gabe C.]

The best answer is to talk to a lawyer that specializes in asset protection. They will assess your situation to see how exposed you are. If you don't have many assets with a lot of equity, you're probably fine with an umbrella insurance policy, but it also depends on what sort of investing you're doing and how litigious the clientele might be. It all comes down to how much risk you want to take vs. how much overhead you want to deal with. I think when you have a lot to lose, this answer suddenly becomes clear. :)