Starting an Limited liability corporation

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  • Account Closed
    Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes
    7y
    Originally posted by @Sharoslyn Smith:

    Is LLC the right method when starting my first real estate business?

    Go with umbrella insurance instead of an LLC for several reasons

    1. LLCs are for protecting substantial equity which is rare until you have 4 or 5 houses

    2. With an LLC you have to follow rules that most people don't know and don't follow anyway so when a lawsuit does happen they are not protected by the LLC

    3. Umbrella insurance gives you the same protection and is cheaper with less work involved

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  • Sharoslyn Smith
    OP
    Member since 2019 · 8 posts · 0 votes
    7y

    Thank you Mr Mike sir I really do appreciate it the help. I live in Texas will this insurance also suffices. It cost $300 to apply for LLC in Texas.

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  • Cody Harris
    Nampa, ID · Member since 2017 · 67 posts · 24 votes
    5y

    @Sharoslyn Smith where are you investing? Did you go the LLC route?

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