2007-06-16 15:26:35 · 3 answers · asked by Richi 1 in Business & Finance ➔ Renting & Real Estate
Well, in the event you get sued... they could only sue for the company's assets and not your personal assets ..kr
Good Luck!
2007-06-24 15:28:29 · answer #1 · answered by Miss Know It All 6 · 7⤊ 0⤋
Safety, if you put an investment property into the LLC and then someone gets injured on the property and sues you, they can only (assuming the LLC was set up correctly) sue you for the value of all proeprty in the LLC (ie they can't take other investment properties in other LLC's nor can they take the house you live in).
Thats really it - you can't (legally) get much tax advantage from it if thats what you were hoping.
2007-06-16 22:31:41 · answer #2 · answered by Slumlord 7 · 0⤊ 0⤋
It depends if you are talking about establishing one, or going through one. Either way you have to be really careful. If you start one you better have a good lawyer start it for you or you could loose everything. If you go through one you better have a lawyer look at thing real carefully or you could be the one coming out on the short end.pp
2007-06-16 22:55:07 · answer #3 · answered by ttpawpaw 7 · 0⤊ 0⤋