hello hello everyone Taylor Mathis here the KEYTLaw girl marketing director and
legal assistant at KEYTlaw. Right now I'm going to talk to you guys about how
many LLC's you should form if you have multiple properties so stay tuned! But
really fast to give this video a like be sure to comment with any questions that
you guys have and subscribe to our channel for more videos like this one we
have upload new content every single week to assist with your legal needs. So
if you own multiple investment properties should you put all of their
properties into one LLC or should you put each property in just separate LLC's?
The answer to the question is usually every investment property should be
owned by a separate limited liability company that owns only one property and
that is not engaged in any other business activities the reason is simple
to maximize asset protection. So asset protection rule 1 buy as much insurance
as you can afford to insure all your LLC's real estate and business activity
make sure you have written proof of insurance showing that your LLC is named
an insurer if you transfer real estate property to your LLC but do not obtain
insurance the emini LLC as an insured the insurance company will probably deny
coverage. asset protection rule number 2 hold title to investment real estate
through a limited liability company most real estate investors know that the
reason to form an LLC in to transfer investment real estate to the LLC is to
reduce or eliminate the risk that the investor may lose his or her life
savings because of a disaster with the property, Asset protection rule number 3
diversify your assets. The old adage don't put all of your eggs
in one basket applies to real estate investments just like it does to any
type of investment if you've satisfied asset
affection rule number two and create a single LLC to hold title to your three
investment properties and a disaster occurs on one of the properties the
creditor could reach all of the equity in all the assets owned by the limited
liability company consider the one-time cost to form an LLC is an alternative
form of insurance that you should not go without. The cost to form an LLC is
peanuts compared to the amount you may invest in property
coupled with the property's appreciation in value over time. So there it is if you
have multiple properties it is definitely a good idea to put each of
those properties into their own separate LLC's to maximize asset protection while
you're here don't forget to like this video comment if you have any questions
and of course subscribe to our channel for more videos!
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