248: Rookie Reply: Do You NEED an LLC for Rental Property?

Do you need an LLC for rental property investing? Ask some investors, and they’ll hit back with a resounding “of course!” But ask another group of investors, and they’ll tell you “not at all!” This duality causes many rookie investors to become confused, not knowing when to protect their property with the limits that come with an LLC. So how are millionaire investors setting up their properties and partnerships? Or, more specifically, what are Ashley and Tony doing to protect themselves?

Welcome back to this week’s Rookie Reply! We’ve got some great questions queued up for our cabin and campground co-hosts, Ashley and Tony, to answer! First, we take a question about what to ask a seller during a final walkthrough, and how talking to tenants may be worth the extra time. Then, we hint at when to ask a listing agent for financials on a commercial property, the great LLC vs. umbrella insurance debate, and finally how to buy an investment property when you’re strapped for cash!

If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover

What to do during a final property walkthrough and top questions to ask a seller before you close

Estoppel agreements and using them to verify leases on tricky properties

Rental property LLCs and when buying umbrella insurance makes more sense

When to ask for financials on a commercial property and using them to vet a deal

Stock portfolio loans and how to borrow against your assets to buy real estate

Partnering up to purchase more property even when you have no cash

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

BiggerPockets

Real Estate Rookie Facebook Group

Real Estate Rookie YouTube channel

Real Estate Rookie Podcast

Connect with Ashley And Tony:

Ashley's Instagram

Ashley's BiggerPockets Profile

Tony's Instagram

Tony's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-248

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