Posted by Rob FL on January 16, 1999 at 20:04:25:
–If I have a few rentals now and would like to put them under a LLC, how would I go about doing that? Or should I put it under a Corp?
I use an S-corp for my rentals, but an LLC is probably your best protection. You just need to sign a deed from you over to your new corp or LLC.
–Do I need a lawyer for a LLC as I do a Corp to become one?
You don’t necessarily need a lawyer but the formalities of LLC and corp are somewhat similar.
–When I buy another property how do I sign the contracts and mortgage notes if I don’t use my own name, do I just sign the LLCs name or Corp name?
I sign all my corporate docs as Rob FL, as president of my corporation. Never sign personally if you can avoid it at all.
–Do I use beneficiaries for each and how do I set them up?
Beneficiaries? These are only used in trusts. Explain further.