Updated over 8 years ago on . Most recent reply
Hello from Rochester NY.
Hello everyone! My name is Michael Feeney from Rochester ny. I actually signed up to this site over a year ago because I was screwed over by a so called land lord/property manager Doug Hirt and I found out a bunch of info about him on here.
Any ways I have been researching rental properties for a while now and I am looking to make a move by the end of summer. I have been advised by a few guys I know that have properties to have a separate LLC for each property I buy. I do own a small used car lot so I have an idea whats involved in starting a business. My question is do I start a buiness/llc before I even buy my first property? Do you guys use your house as your business address?
Most Popular Reply
mike, i put a few of my properties into an LLC i created but only after i had 6-7 in my personal name. My attorney did all the work for me. LLC or not is not the first issue for you to be considering in preparing your RE adventures. Acquiring your first property is . . . after that, you build on to what you've started including your asset protection strategy. IN addition to havingn some but not all my properties in LLC, i have an Umbrella Insurance policy.