Should I start an LLC or incorporate

Question

I purchased my first investment property in July 08. I want advice on starting an LLC or company for my own protection . I will appreciate any advice. Thanks

Christian Malesic · Answer

The General Real Estate Investing forum is probably the best place to begin your research.  Do not always assume the topic title is the only thing discussed in the thread.
                        
                        I remember getting pretty active in the discussion here:   
            LLC, S-Corp, or LP Holding Company?
                        
                        Some more thoughts here:
            realty trust or LLC?
                        
                        And a long and related thread here:
            When is it time to incorporate?

Christian Malesic · Answer

This is a very heavily discussed topic around here.  Do some reading of past posts.  Try using the "Advanced Forum Search" at the top of the screen.

If you have further questions feel free to ask away.

Will Barnard · Answer

Best advice is to get an experienced RE attorney on your team to discuss this topic and your personal situation. An LLC can add some liability protection, but so does an insurance policy along with an umbrella policy. There is also the option of using land trusts, depending on the state you are investing in.
1. Confer with attorney.
2. Make sure you have adequate insurance or even over-insure.
3. Do not act in a negligent manner while operating your business.