#28 Forming an LLC For Your Rental Properties
Should you put rental properties in an LLC? This is a question I get all the time, especially in the Passive Income Docs Facebook group.
Episode Highlights
Should you put rental properties in an LLC? This is a question I get all the time, especially in the Passive Income Docs Facebook group.
For a rental property owner, setting up rental properties in an LLC provides asset protection. However, it doesn’t mean it’s the right move for everyone.
In today’s podcast, I’ll share the pros and cons of putting properties in an LLC before making a decision.
Now, let’s look at five things that we discussed in this episode:
- Advantages of an LLC for rental properties
- Importance of anonymity when forming an LLC
- Disadvantages of an LLC
- What is a due-on-sale clause?
- Pros and cons of increasing insurance
Episode Breakdown
The old saying as you know, “never ask a barber if you need a haircut”.
Whenever you buy rental properties, just like your own home, your name is on the deed and that becomes public knowledge. Now that’s not a good thing if you are a high income professional.
Typically umbrella insurance especially is pretty cheap.
And, if you haven’t done so already, let me know what you thought of this episode in one of our Facebook groups: Passive Income Docs or Passive Income Professionals
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