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Tax, SDIRAs & Cost Segregation
HomeForumsTax, SDIRAs & Cost SegregationToo small to create an LLC?
Drew Whitson's profile image
Drew Whitson's profile image
Drew Whitson
  • Investor
  • from Saint Paul, Minnesota
  • Member since Nov 10, 2011
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Drew Whitson's profile image
Drew Whitson's profile image
Drew Whitson
  • Investor
  • from Saint Paul, Minnesota
  • Member since Nov 10, 2011
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Drew Whitson
  • Investor
  • Saint Paul, MN
2
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12
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Tax, SDIRAs & Cost Segregation

Too small to create an LLC?

Drew Whitson
  • Investor
  • Saint Paul, MN
Posted Jan 17 2012, 11:36

I own five single family homes in the Twin Cities area (Minnesota) and am trying to learn if creating an LLC and transfering these five houses to the LLC is a good decision and worth the time and money for such a small portfolio.

I currently have a $1M umbrella policy with my home owners insurance company but am wondering if one additional layer of protection would be prudent.

If I should create an LLC, should I create one for each property and another to hold the five LLC's? Are there any tax advantages to moving to this legal structure?

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