Author Topic: Florida Rental Owners  (Read 718 times)

FRT15

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Florida Rental Owners
« on: December 29, 2018, 08:28:19 PM »
Hi everyone, first time rental owner in Florida. I'm curious to know if you are owning the property in your name or utilizing corporate entities. I have heard various things about the strength of single member llc's in regards to asset protection. Thanks

clarkfan1979

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Re: Florida Rental Owners
« Reply #1 on: January 06, 2019, 09:08:27 AM »
If you have 5 rentals or less most people recommend an umbrella policy for asset protection. I have 3 properties and 4 "doors" and I utilize an umbrella policy.

Within 5-10 years I want to pool some money with friends and buy an apartment complex of 24-50 units. At that point, I will probably do an LLC.

lexde

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Re: Florida Rental Owners
« Reply #2 on: February 11, 2019, 06:41:03 PM »
Depends on your assets, the properties you're renting, etc.

Generally an LLC is safer. I'm looking to purchase a duplex and it will be in my name though (for now).