For sure! I think LLCs help further protect your assets. Especially as you own a lot of units, sometimes a few electric or gas’s bills fall through the cracks so it helps protect any major liability. Plus lenders let you get financing and close in LLCs which also helps. Nice work!
What type of sue or lawsuit can you have? Usually, tenants can sue due to intent or neglect from the landlord. Is it hard to sue? Someone give me real cases please. Just curious
I am a lawyer. This isn't true. If you make a decision that is negligent, you will be sured personally in addition to your LLC. If you have a single-member LLC, you are making all the decisoins. If you want a loan, you will sign personally to get it (unless you have an extensive business history). If there are other members in your LLC and they are negligent and you had nothing to do with it, then your losses will be limited to those owned by the LLC (and they will be sured personally in addition). Sean, you rock. Look into this and update. If anyone is wondering what I do. I choose to ensure against my risk. I get alarge umbrella policy beyhond my underlying policies on the houses I own.
For sure! I think LLCs help further protect your assets. Especially as you own a lot of units, sometimes a few electric or gas’s bills fall through the cracks so it helps protect any major liability. Plus lenders let you get financing and close in LLCs which also helps. Nice work!
Please explain why a lender would allow you to close in LLC or Quitclaim after unless you are willing to pay the Note at a higher interest rates?
So would it be better to have an LLC or a different type of entity?
What type of sue or lawsuit can you have? Usually, tenants can sue due to intent or neglect from the landlord. Is it hard to sue? Someone give me real cases please. Just curious
I have a question. How much money, did you pay your video editor for this video?
great video😀
I am a lawyer. This isn't true. If you make a decision that is negligent, you will be sured personally in addition to your LLC. If you have a single-member LLC, you are making all the decisoins. If you want a loan, you will sign personally to get it (unless you have an extensive business history). If there are other members in your LLC and they are negligent and you had nothing to do with it, then your losses will be limited to those owned by the LLC (and they will be sured personally in addition). Sean, you rock. Look into this and update. If anyone is wondering what I do. I choose to ensure against my risk. I get alarge umbrella policy beyhond my underlying policies on the houses I own.
Why didn’t u mention a series LLC??? that would save you tons of of money for llc fees