One LLC or an LLC per property?

[Brian Plajer]

Hello,

My wife and I have three condo's in Charlotte, NC. We have them all under one LLC equal partners (25% each) with my brother-in -law and his wife. We just set up the LLC last year (properties purchased within the last three years) and a friend said its safer to have each property in its own LLC? Wondering what other opinions are as we hope to add additional properties (not condo's) in the future. Thanks

[Claude S.]

@Brian Plajer

I found it easier to have separate LLC (and separate LLC checking accounts) for each property. It sure makes keeping track of funds coming in and going out at tax time much easier.