Question for Bud B or Bronchick - Posted by Chuck P
Posted by Chuck P on January 31, 2000 at 09:41:57:
I recently was listening to some tapes made by Robert Kiyosaki and his expert on business entities said the LLC are relatively new and untested in regard to case history.
I am getting into rental props. Have one house I’m going to convert for long term. This is a no-no in a C corp. I want to form a Ltd Partnership with the C corp being the general mngr w/ a 1% interest. The other route I was considering, more flexible and cheaper in the long run, was an LLC holding beneficial interests in the various rental properties all in individual trusts - compartmented. Robert’s advisor, on the tape “What My Rich Dad Taught Me About Corporations” said that this ws not wise.
Robert uses a C corp with Ltd Partnerships.
Any thoughts about this or general consesus? I have spoken with my atty regarding this and he said Ltd Partner as well.