Twinsburg, OH · Member since 2014 · 36 posts · 8 votes
Hello everyone. Could anyone recommend a reliable and knowledgeable professional who can set up a trust or any other entity to shield myself from any future lawsuits related to my 2 rentals. I am a high level w-2 earning earning individual who is investing in real estate but i am worried if something comes up that can potentially affect my personal finances and family. I have created 2 different LLCs for each rental. Your response is mush appreciated
Hello everyone. Could anyone recommend a reliable and knowledgeable professional who can set up a trust or any other entity to shield myself from any future lawsuits related to my 2 rentals. I am a high level w-2 earning earning individual who is investing in real estate but i am worried if something comes up that can potentially affect my personal finances and family. I have created 2 different LLCs for each rental. Your response is mush appreciated
Your best defense is umbrella insurance on each rental and keeping the properties in a good and safe condition for your tenants. It's not really that big of a deal.
The fact that you have two LLC's already is proof that someone you have listened to has scared you into setting up LLC's that aren't really necessary. Again, a couple million dollar umbrella policy on two properties is probably only a couple hundred bucks a year. That's more than enough.