Asset Protection

Asset Protection

Multifamily Syndicator · Greater Los Angeles Area · Member since 2015 · 399 posts · 261 votes

HI everyone,

I currently have one single family home investment that is currently under my own name. In the next few months I am planning on purchasing about 5-6 more single families out of state. I have heard different things from different people and am pretty confused in the direction I should take for protecting my assets. My CPA says that at this stage in the game for me all I need is an Umbrella Policy which should be good to cover me with so few investment properties. Others have told me to start an LLC or a Series LLC. I want to make sure I do what is going to protect me in the long run and don't mind spending the money upfront to make sure I make the right decisions for my future. I live in California so the LLC fees and tax charges are pretty high. Is an Umbrella Policy ok for me at this stage or should I go all in with an LLC? I appreciate all of the feedback and help with this!

0Reply
24 views

1 Reply

Jump to latestLatest
  • Mark B.Pro Member
    Rental Property Investor · Morgan Hill, CA · Member since 2012 · 212 posts · 64 votes
    11y

    Just remember that you will probably have to pay the $800 minimum tax for each LLC in a series to CA in addition to whatever you need to pay the other state.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.