Posted by JHyre in Ohio on April 01, 1999 at 13:20:22:
Check out Bronchick’s articles at www.legalwiz.com. The number of LLC’s used to hold properties depends on the size of the properties (e.g.- large building, 1 to an LLC or 10 SFH’s per LLC). Depends how much admin you want to deal with. Someone suggested $1 million per LLC- probably a good rule of thumb.
A friend and I wish to combine resources and start investing in real estate. We would like to invest in long term rentals and do some flipping at a later date. An LLC appears that it would work the best for rentals. Can an LLC be set up for all of the properties or should it be set up individually for each one?? I see there are some courses /books on this site that may be helpful - can anyone recomend any of these?
You’re on the Right Track… - Posted by JHyre in Ohio
Posted by JHyre in Ohio on April 01, 1999 at 13:20:22:
Check out Bronchick’s articles at www.legalwiz.com. The number of LLC’s used to hold properties depends on the size of the properties (e.g.- large building, 1 to an LLC or 10 SFH’s per LLC). Depends how much admin you want to deal with. Someone suggested $1 million per LLC- probably a good rule of thumb.