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
Here’s a breakdown of how this episode unfolds…
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.
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