Real Estate Investing with Coach Carson
#348: Should you get an LLC for your Rental Property Investing?
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.
40:18
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Quick takeaways
- LLCs provide crucial protection for real estate investors by shielding personal assets from lawsuits related to property ownership.
- LLCs offer centralized protection by consolidating property ownership within individual entities.
Deep dives
Importance of LLCs for Real Estate Investors
LLCs provide crucial protection for real estate investors by shielding personal assets from lawsuits related to property ownership. Positioned as a backstop to insurance failures, LLCs prevent personal liability by separating ownership from the individual. Inside protection safeguards investors if property-related issues arise, while outside protection shields against personal errors like loan defaults. Clint Coons explains why one LLC per property enhances protection, emphasizing the significance of structuring LLCs to ensure comprehensive asset safeguarding.
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