Do I Need an LLC for My Rental Property?More specifically, do I need one LLC for each rental property, or one LLC for all of my properties?
Opinions expressed by Entrepreneur contributors are their own.
In this video, Entrepreneur Network partner Mark Kohler discusses the importance of balance between your LLCs and rental properties.
"If you get one rental, get an LLC. Now, maybe two and three rentals can go into one LLC . . . . As you start to get four, five, six, seven, 10 or 15 rentals, then maybe we add a second or a third LLC. Maybe even a holding company LLC to hold them all."
There are all sorts of options for your asset protection, but it all comes back to balance -- let your portfolio grow along with you.
Click play to see how proper financial preparation can save you from headaches later.
Watch more videos fromMark J. Kohler on his YouTube channel.
Related:How to Set Up and Maintain Your Business Entity
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