OfflineI'm getting more and more properties and have just signed contracts on two - multiple property packages - keeping some for rentals and flipping others. I've always used one or two LLC's but haven't gone beyond two. I'm looking for some suggestions on how best to structure the business side of this business - not necessarily from the tax side as I'm sure everyone will just say to ask my own accountant. Seriously, is there a REAL need to put EACH property in it's own LLC ? Flip, rehab, wholesale - doesn't matter? Only put each "rental" property into an LLC? Inquiring minds need to know 
It's costly and cumbersome paperwork and takes time to have to open and maintain so many LLC's but is it stupid NOT to do this?
Would love to hear some thoughts from anyone actually doing this.
Thank you.
Protecting my Ass-ets
Posted on: Tue, 05/10/2016 - 22:23
Protecting my Ass-ets
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- by shammie
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not me personally the article
for a non active LLC !!!!
http://bit.ly/1T3xRV4 this a very good read << about all these llc's >>>
Hey Shammie, we have been taught a few different things. Where we are now is one LLC for flips and one for buy and holds and if you have a bunch of buy and holds you might want more then one llc. If something happens, a tenant gets hurt at one of your properties in one llc, they can hose it up for all. We have also heard some say 5-10 in one llc depending on value/equity.
Others have said to put each buy and hold in a land trust, then have a trustee who controls the trusts and one LLC that is the beneficiary. Curious to read what others say about this. LATER
SEMPER FI
GET SOME!
I just wholesale and you don't need multiple LLC"s to do that I Only have one and rentals I don't have any but I have heard and Jack you are right bc in our reia's they have said to batch rentals in groups of 5 more or less for assett protection.
I remember them saying also about trusts what Jack said, congrats on your action nice. and walt I will read that thx.
Tony
Go faster do more! GFDM!
good stuff thx man congrats on taking action man look forward to you coming to the edge nextyr
Tony
Go faster do more! GFDM!
Many Thanks Walt, Jack and Tony !! I appreciate your thoughts and suggestions. Great stuff!