All Forum Posts by: Santhosh Ramani

Thanks @Aj Parikh! Appreciate your response.

Thanks @Brian Garlington and @Aj Parikh for your responses. Follow-up questions :

1. Common eg. that many people quote: Let's say the tenant is injured in the property and decides to file a lawsuit against you does umbrella insurance help in this scenario?

2. Parikh - to your point, is it not possible to first buy the property and then transfer to the LLC?

Thanks,

Santhosh

Hi BP folks - newbie here from California (Bay area) & looking to learn from you all here!

My situation: Started slow with real estate investing (turnkey) and own a couple of properties. Things seem to be going on and I plan on expanding my RE portfolio. 

My concern: I have heard of cases where owners get sued by tenants' attorneys and the damage/cost can get pretty hefty and eat into your personal savings. (not sure how frequently this happens but nevertheless a concern)

My question: How do I protect myself/wealth from lawsuits?

I've seen other posts and a lot of discussions have gone in circles. Hoping to get some clarity

Also - I was approached by a reputable establishment and they suggested the following structure:

Creating an overarching LLC and creating a Land trust for each property owned. Seems like an interesting option but also seems expensive.

Thanks,

Santhosh

Hi Folks - seeking wisdom from this awesome forum!

Here is my scenario.

I currently own a 2/2 condo in Bay Area, CA and I'm moving to a larger home (With larger mortgage etc.)

Renting my condo will give me a negative cash flow of 600-800 bucks a month.

Selling now will not yield me the best possible return (since the Bay area condo market is a little cold now).

What kind of framework can I use to help drive the decision in a meaningful manner?

Thank you