LLC - Keeping your properties after a lawsuit

[Dylan K.]

Hello, I am getting ready to start looking for my first home which will also be an investment. I am a business owner with 2 companies that hold an LLC. I am familiar with LLC's but by no means am I an expert. Two of my close friends have many investment properties. One of them had been sued years ago (not related to real estate) and lost all of his properties and eventually filed bankruptcy. The properties were all under his own name. The other friend had 3 properties and had been battling a lawsuit and lost (not related to real estate). He ended up keeping 1 by making it his primary residence and loosing the other two. Again, didn't have an LLC for his small real estate business. If they had their properties under a LLC, would the properties have not been apart of their personal assets and protected from the lawsuits they faced personally? Please let me know what you think and if you have any experiences to share. Thank you