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Updated almost 4 years ago on . Most recent reply

Chris Mullinax's profile image
Chris Mullinax's profile image
Chris Mullinax
  • Property Manager
  • from Kokomo, IN
  • Member since May 19, 2020

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Chris Mullinax's profile image
Chris Mullinax's profile image
Chris Mullinax
  • Property Manager
  • from Kokomo, IN
  • Member since May 19, 2020
Chris Mullinax
  • Property Manager
  • Kokomo, IN
44
Votes |
168
Posts
General Landlording & Rental Properties

Is an LLC the best option?

Chris Mullinax
  • Property Manager
  • Kokomo, IN
Posted

In the majority of possible investment scenarios, an LLC is the best option for rental property owners. How many of you transferred your properties to an LLC? 🤔

  • Chris Mullinax
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Benjamin Aaker's profile image
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Benjamin Aaker
  • Rental Property Investor
  • from Brandon, SD
  • Member since Sep 6, 2015

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Benjamin Aaker's profile image
Benjamin Aaker's profile image
Benjamin Aaker
  • Rental Property Investor
  • from Brandon, SD
  • Member since Sep 6, 2015
Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
Replied

I have used an LLC for all but one of my properties. I like the liability protection that comes from separating out the businesses. If one takes a loss, it shouldn't spill over on to the other ones. There is also the benefit of having an extra layer of anonymity that comes from having the LLC own your properties. This will probably vary state to state. I have transferred my first property from personal to an LLC. It cost about $800 with an attorney.

  • Benjamin Aaker
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