What I think is that, this depends on your level of comfort with chance and probability. The more properties you hold in a single entity the more you risk your income being affected in a law suit. If you hold, for example say five properties in a single LLC , and that entity is sued in court by a tenant in property number three. All of the assets in the Single LLC could be affected negatively. Most people I presume would prefer to have one property per LLC, thus limiting the exposure to any single claim. 

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Information and Content in this blog is Original to Stephen Sainte-Martin .

 
Posted by Stephen Sainte-Martin on 08/25/2010 03:45 PM   Comments (4)  
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4 Comments on Should I set up an LLC for each Property that I Purchase?

AUG
25
2010
112,605 Points Localism Sponsor

OK, so here's my 2 cents. #1 I AM NOT AN ATTORNEY!!! My personal opinion is that the more LLC's you have is probably better. I would definitely consult an attorney to determine your liability.
3:48pm • #1
1,454,786 Points 46 Featured Posts Outside Blog Called Shot Master

Thank you for the tip. If someone already owns a property can they set up LLC ?
3:50pm • #2
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Chris:

Thanks for releasing yourself from liability, but I agree with you.

Stephen
3:51pm • #3
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Gita:

Yes they can, but like Chris said, I am not an Attorney.

Stephen
3:53pm • #4


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Stephen Sainte-Martin

Boston, MA

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Realty Direct Boston

Address: 133 Hancock Street, Quincy, MA, 02171

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This is a blog for folks who realize that perhaps there was another way of doing their deals. It is a retrospective examination, and for those who realize that hindsight is 20/20.


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