WIIRE 044: Do you need an LLC to invest in real estate?

Hi, friends! Welcome back to another episode! This week we’re answering another question we hear a lot and that question is ‘do I need an LLC to invest in real estate?’. While there really isn’t a cut and dry answer, we are going to share with you our personal thoughts on the subject, as well as our own experiences.

Just a reminder, we are not attorneys and while we love sharing words of wisdom, we always recommend consulting with your attorney to find out what will best suit your specific business and personal legal needs.

In this episode we’re diving into:

• What is an LLC and what does it do
• Things to understand about an LLC
• Pros
• Cons
• Benefits
• Tax details

 

First, what is an LLC?

An LLC, in its simplest form, is what separates your business liabilities from you personally, for asset protection. This means that a tenant cannot come after you personally, should something go awry at one of your properties.
 

The long and the short of it:

If having (or not having) an LLC is what is keeping you up at night, and keeping you from getting started in real estate, STOP! Put it aside and revisit it later because this is where so many people find themselves stuck, and never even get started.

 

That’s all we have for you this week but if you have a question you’d like us to chat about on an upcoming episode please feel free to email us! Also, if you haven’t done so we would LOVE it if you could leave us a review wherever you listen to your podcasts to help other listeners like you find us!

 We will catch you in the next episode!

 

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