Real Estate Investing with Coach Carson #348: Should you get an LLC for your Rental Property Investing?
4 snips
Jun 17, 2024 
Legal expert Clint Coons discusses the benefits of using LLCs for real estate investments, emphasizing asset protection and tax efficiencies. He advises on creating 1 LLC per property early on, the importance of insurance, and the role of LLCs in shielding assets from liabilities.
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LLC Timing for New Investors
- New real estate investors using conventional financing should wait before setting up an LLC.
- Focus on the first deal, then establish an LLC in the appropriate state.
Management Entities for Self-Managers
- Self-managing landlords should create a separate management entity.
- This entity interacts with tenants, providing anonymity and mitigating personal liability.
Insurance vs. LLCs
- Insurance is the first line of defense, while LLCs serve as a backstop.
- LLCs protect against insurance failures due to exclusions like toxic mold or dog bites.