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Any real estate investors?
Posted on 10/11/12 at 5:04 pm
Posted on 10/11/12 at 5:04 pm
I am wanting to start buying rental houses to hold onto for the long term, not flipping. I'd like to get your advice on what type of entity you set up for best tax benefits, and liability protection from lawsuits. Also, do you think a 1 million umbrella policy is adequate in the early stages for liability?
Hoping to get started soon. Any advice is appreciated.
Hoping to get started soon. Any advice is appreciated.
1
Posted on 10/12/12 at 10:30 am to BullredsRus
Create an llc partnership. Than an llc taxed as a disregarded entity for each property. Report all activity on partnership return.
If not married or no partner, create scorp llc as management company which will be the other partner.
If not married or no partner, create scorp llc as management company which will be the other partner.
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