When to use an LLC? One LLC per property or multiple properties?

[Geoff Pettis]

I know putting your rental properties into an LLC reduces the personal liability of being a landlord. But, is it really necessary if you just own one, two, or even three properties?

[Peter M.]

@Geoff Pettis I agree with the previous posts but will add that an asset protection lawyer will also say it isn't so much about the equity as the liability of having multiple in the same entity. If you get a judgment against one, then the others can be used to satisfy the lien. If they are in separate llcs or series then they wouldn't be at as much risk. You can also use land trusts to obscure ownership and make it harder to find who to sue.