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Updated almost 7 years ago on . Most recent reply

Sam Jiang's profile image
Sam Jiang's profile image
Sam Jiang
  • Investor
  • from Windermere, Florida
  • Member since Sep 20, 2016
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Sam Jiang's profile image
Sam Jiang's profile image
Sam Jiang
  • Investor
  • from Windermere, Florida
  • Member since Sep 20, 2016
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Sam Jiang
  • Investor
  • Windermere, FL
1
Votes |
11
Posts
General Landlording & Rental Properties

Setting LLC vs Just home insurance

Sam Jiang
  • Investor
  • Windermere, FL
Posted

Hi,

Do I really need LLC and a Wyoming LLC to protect myself? My accountant told me I do not need to create all these entities just need to have good insurance for each rental. I feel like a nightmare managing each LLC if I starting to buy up more cheap rentals.

Any advice greatly appreciated.

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Arlan Potter's profile image
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Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter's profile image
Arlan Potter's profile image
Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
918
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
Replied

We did not set up any LLC's until we had 40+ SFR's and were buying multis.

Have good commercial insurance.

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