LLC - Pros and Cons

LLC - Advantages and Disadvantages

LLC - Pros and Cons

 

Do we need an LLC for the houses we hold?

I wish there was an unequivocal answer, but the truth is that there simply is not.

Like many things in life, it's not black and white

And as in business, no one really knows what the right answer is,
And can anyone claim to have one?

I am not a tax person or I have some ability to say what to do about it, but from my experience, I agree with what is said here in the video…

Benefits:
Legal protection of private assets (as long as there is no curtain lift) from claims
- Relatively easy to submit taxes
- A special legal structure that provides good legal protection with ease in tax evasion

Disadvantages:
- Significantly impairing ability to take financing from regular banks
- An economic cost that can hurt profitability, especially with LLC holders on every home we own
- Paperwork and preoccupations that can take precious time
- Does not always provide the legal protection we want

Before you make a decision, consult with your accountant or whoever manages your money.

What do I do personally? It depends on what situation and with what property?

# Real Estate
#Rental property
# Investments
Should You Get an LLC For Your Real Estate Business? Maybe… maybe not. In this video, Brandon Turner, host of The BiggerPockets Podcast, shares the dirty…

Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum)

The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion

Related News Real Estate Entrepreneurs

Responses