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Apartment house

Asked by: Kevin - 3 June, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 I have a house that have three apartments in it. It has commercial insurance, do I need to do a LLC?
Answered by: Ray Albert - 5 June, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 Kevin,

It would certainly be a very good idea to have the property owned by an LLC, hence separating you and your personal assets from the liabilities related to this property.

Whenever dealing with real estate it's always a good idea to discuss your options with a licensed accountant and/or attorney (preferably one with good knowledge of asset protection).

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