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Jun 1, 2020
4:27
:38
pm
JimmyZ
Truly Addicted User
<< Deleted >>
This message has been modified
Originally posted on Jun 1, 2020 at 4:27:38pm
Message modified by on Feb 10, 2021 at 7:15:29pm
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JimmyZ
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Cretin
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JimmyZ
Joined
Jun 6, 2008
Last login
Jun 7, 2024
Total posts
76,277 (39,456 FO)
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Messages
Author
Time
Is having an LLC worth it?
lemonademan
6/1/20 3:48pm
Yes, it is worth it. Some put each property in a separate LLC to isolate the
boogers
6/1/20 3:50pm
I literally just set up my first one and finalized today.
Hoax
6/1/20 3:53pm
If you do that, you have to be very good with the money flows because
Baron
6/1/20 4:11pm
Learn to use quickbooks. Not too hard after you get it.
boogers
6/1/20 4:13pm
It is more than just that. You need separate accounts, agreements between the
Baron
6/1/20 4:15pm
Edit: To be clear the complexity I am focusing on is putting each property in a
Baron
6/1/20 4:19pm
<< Deleted >>
JimmyZ
6/1/20 4:27pm
Talk to attorney. It's worth the $$$. The upfront is cheaper than loss from a lawsuit if you do nothing.
Turnpike Lane
6/1/20 3:51pm
It is.
Texas Hammer
6/1/20 3:52pm
Depending on the state you can do it yourself for almost nothing. Utah was very
TheSpiker
6/1/20 3:54pm
If you are in Utah go to
TheSpiker
6/1/20 4:02pm
Do it directly from the state and not through a service - saves money.
ClackamasCoug
6/1/20 3:59pm
Thanks for the Tips
lemonademan
6/1/20 4:28pm
I'm am an attorney and organize LLCs for clients all the time. A few issues:
PoolBoy
6/1/20 4:26pm
Usually easy to form. Worth it for liability protection issues.
LifeLongLakerFan
6/1/20 4:27pm
Yes, if you use it right and respect the formalities. Otherwise, no.
mkg
6/1/20 4:46pm
I am an attorney. If you have the money to buy rentals you have the money to
vegasnative
6/1/20 5:51pm
<< Deleted >>
JimmyZ
6/2/20 7:49am
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