Posted on: 07th Sep, 2010 11:05 pm
I'm an investor and I have four rental properties. I need to know how would I go about putting them under a corporation or LLC to be protected against law suits should anyone get hurt on any of the properties. I like to place each one under it's own LLC or corporation. Any suggestions on how I can go about doing this?
Andres
Andres
Hi andresleandry
Welcome to mortgagefit,
Firstly you need to form a LLC and then transfer the property (deed) from current owner to the LLC but keep in mind that you may have to pay the necessary transfer fees and taxes as well.
But again it will be a wise decision to form a single LLC instead of multiple LLC and it will be easy to keep the track.Because maintaining number of LLC is really a big headache and it is costlier as well.
You can check this website to form a LLC they are cheaper than attorneys.Most important thing is this is not an affiliate link and no way I am getting any commission to suggest this website.http://www.llc.com/
DIPA
Welcome to mortgagefit,
Firstly you need to form a LLC and then transfer the property (deed) from current owner to the LLC but keep in mind that you may have to pay the necessary transfer fees and taxes as well.
But again it will be a wise decision to form a single LLC instead of multiple LLC and it will be easy to keep the track.Because maintaining number of LLC is really a big headache and it is costlier as well.
You can check this website to form a LLC they are cheaper than attorneys.Most important thing is this is not an affiliate link and no way I am getting any commission to suggest this website.http://www.llc.com/
DIPA
DIPA,
Thank you very for your response.
Thank you very for your response.