LLC to run your rentals through ?

[Sean Robertson]

New to BP. While networking I meet a realtor that said he started a LLC to run all of his long term rentals though. Any thoughts on this? Would it be wise to do for short term rentals as well? Thanks

[Mike V.]

I’ve consulted with my people and they advised me not to LLC and keep everything on schedule E and maintain good insurance. They ALL said LLC is the wrong approach and will cost me more In The long run and offered zero tax savings.