What is the best way to protect your ets in residential real estate investing?

I am considering real estate investing and need to know the best way to protect myself. i. e. , land trust, LLC, ?

Responses:

A different LLC for each property, including separate books for each one. Put your personal home into an LLC or trust, as well
Yes, incorporating may be helpful as per the rule in Foss v. Harbottle en. wikipedia.org / wiki / Foss_v_Harbottle BUT there are a variety of remedies available to prevent what might be considered a fraudulent conveyance. The person to speak to here is an accountant, who can tell you based on the amt and purpose of your investment how to set up the transaction to get maximum bang for your buck. S / he'll no doubt recommend atty as required. The good news: accts are nicer than attys, far cheaper and frequently hugely more useful when it comes to financial information
Put everything in a seperate land trust, named after the property and street addy i. e. 1234 Maple Street Real Estate Trust. It's not a bad idea to extend the name a little, especially if you are putting your own name in the trust. From a protection standpoint, you have to treat the trust as an individual en y. or it will not hold water. Don't comingle funds, don't sign docs personally. etc. Keep the trust in tact, and it will save your. Conceptually. should someone sue you personally. they can only get your personal etts. If an individual slips and falls on the sidewalk of the home that you have in a trust. only that trusts' ets are vulnerable

Tags: variety, recommend, protection, incorporating, atty

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