Thinking of Purchasing Multiple Properties—Should I Start My Own Real Estate LLC?

While there are many material possessions we can purchase that offer no real value other than some level of comfort or status, pursuing land and home ownership has been a strong human drive—and practical need—for centuries. Whether real estate is a good investment depends on many different factors, but it is often a much better financial strategy than putting your disposable funds into things you can’t hold onto or cash out of later, like extravagant meals or trips.

You Can Create a One-Person or Multi-Member LLC

If the land- or home-buying bug (or both) has really taken hold, you may see your portfolio expanding more quickly than expected. If you now have several homes or pieces of land and are thinking of buying more, you may want to separate your holdings into a business and form a corporation or an LLC. If you have one or more partners, you may even want to create a multi-member LLC, with everyone enjoying the benefits

The LLC has benefits even if you just own one rental home, removing personal liability should you be involved in any sort of legal issue regarding the home or property, to include tenant activity that drags you into a potential problem. Popular with many entrepreneurs, the LLC offers protection—and creating one need not be an intimidating task at all—or an expensive one.

The LLC Offers Protection & Numerous Other Benefits

There are many benefits to the LLC. First, your personal liability is limited. Next, you may find much greater flexibility, along with a forum that works best for your business—as opposed to creating a corporation or other partnership. If this is your first time forming a business entity, you may find that the LLC is suitable for your situation—but keep in mind that is not always the case for everyone as there may be other complexities involved.

You will be able to open a business account specifically for the LLC, as well as having a tax identification number assigned to it. The tax benefits are attractive to many individuals also, mainly due to the opportunity to avoid double taxation. While the thought of ‘business taxes’ can be quite intimidating for many, here you are able to pay through your personal taxes—and that is it.

Aside from the protective and financial benefits, you will also be afforded much greater organization for administration in handling your current and future real estate deals, from paying bills to paying yourself when there are profits.

Do you need help with a legal issue? Call Shane Coons now at 949-333-0900 or email us at Shane.Coons@seclawoffices.com. We can review your case, answer your questions, and help you decide how to move forward. We are here to help!

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Thinking of Purchasing Multiple Properties—Should I Start My Own Real Estate LLC?

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