If I am buying rental property in Florida, should I set up an LLC?



I’ve done it both ways. I own property in no name and own it in corporations. It’s a complex equation, has to do how much property you’re doing, what kind of property it is, what kind of liabilities are out there, are you covering adequate insurance. Certainly if you have some assets to protect I would highly recommend doing that and/or even using a land trust. Some circumstances I would tell you to do it, there are more costs once you do it. The bank accounts, the tax filings, the state filings, all of that. There’s a lot of factors that go in and it’s going to be an individual decision whether or not you want to put it in the LLC or not.




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