Hi Everyone,
This may have been answered before, so feel free to direct me to the right place rather than answer. I'll be moving about an hour away from our current house, and purchasing another right next to my new job, and will be paying cash. The current house is an ideal rental property, small relative size, two blocks from every grade of school, and backs up to hiking trails. So I'd really like to keep it (besides it appreciated 7% last year, and looks like it will do the same for a couple of years at least).
Anyway, we plan on purchasing much more real estate in the future, hopefully on the order of a property every other year or so, and was wondering if it's worthwhile to put this house into some sort of LLC right away, or wait until we have more pieces to do that. I know it costs more money to do an LLC, and I don't know if there's some "tipping" point where it's worthwhile to separate the value in the business from your personal assets via the corporate structure. Everything is cash, so I'm much more worried about lawsuits than debt collects.
Any advice would be appreciated. Thanks!
-thepfluger
