07-08-2019, 08:49 AM
Good luck getting a loan on a new LLC that’s even worth it.
A good rental contract and a $3-5M umbrella policy is more cost effective at this point in your life. My uncle had ~22 rental properties without an LLC. Insurance doesn’t want to pay out and will fight anything (including you which is why an ironclad rental is good). Also force your tenants to have minimum rentals insurance; this will also discourage against silly claims.
PS- an LLC without insurance means you have to fight your own fight. Plus if they can prove negligence your LLC is worthless as they can still come after you personally.
A good rental contract and a $3-5M umbrella policy is more cost effective at this point in your life. My uncle had ~22 rental properties without an LLC. Insurance doesn’t want to pay out and will fight anything (including you which is why an ironclad rental is good). Also force your tenants to have minimum rentals insurance; this will also discourage against silly claims.
PS- an LLC without insurance means you have to fight your own fight. Plus if they can prove negligence your LLC is worthless as they can still come after you personally.
2020 Ford Raptor
2009 Z06
1986.5 Porsche 928S
2009 Z06
1986.5 Porsche 928S