Using an LLC for properties.

2 Replies

It is generally a good idea to have an LLC. That way if anything happens and one of your tenants decides to sue you, they will not be able to take away your personal residence. If you have each property under a different LLC then they would only be able to sue the one LLC, and only that specific LLC would be sued.

I hope that makes sense and that helps you out! I think its a great idea to have an LLC to protect your personal assets from your business assets!

Be careful though. If you have a mortgage, most mortgage companies have a due on sale clause in the mortgage. Moving the mortgage into your LLC will trigger that clause. Mortgage companies usually don't act on this clause but it can happen.

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