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Angela Ceresnie's profile image
Angela Ceresnie's profile image
Angela Ceresnie
  • from Brooklyn, NY
  • Member since Jan 3, 2018

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Angela Ceresnie's profile image
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Angela Ceresnie
  • from Brooklyn, NY
  • Member since Jan 3, 2018
Angela Ceresnie
  • Brooklyn, NY
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Starting Out

Is a RE Attorney Necessary

Angela Ceresnie
  • Brooklyn, NY
Posted

A partner and I are just starting out in TurnKey RE Investing and my CPA has suggested that we talk to a RE Attorney and that we have a separate LLC for each property. We plan to buy 4 or so homes this year. This all seems a bit overt the top to me, but I'm also wary of cutting these kind of corners as they can be pricey to deal with later (ie the cost of a lawyer is way lower than the cost of cleaning up a legal mess.)

Any ideas on this from the forum?  

Thanks!!

Angela

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Brie Schmidt's profile image
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Brie Schmidt

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Brie Schmidt
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied
Originally posted by @Angela Ceresnie:

A partner and I are just starting out in TurnKey RE Investing and my CPA has suggested that we talk to a RE Attorney and that we have a separate LLC for each property. We plan to buy 4 or so homes this year. This all seems a bit overt the top to me, but I'm also wary of cutting these kind of corners as they can be pricey to deal with later (ie the cost of a lawyer is way lower than the cost of cleaning up a legal mess.)

Any ideas on this from the forum?  

Thanks!!

Angela

The properties that I own are in one LLC. But I would still consult a lawyer about your personal situation and understand the risks / costs with different strategies

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