In this episode of Coffee with Carl, Attorney Carl Zoellner covers the basics of a Series LLC (SLLC) and what you need to look out for if you’re considering using this cost-saving real estate investment tool.
A series LLC is a limited liability company designed to address a particular concern that many real estate investors have — the cost of setting up multiple LLCs. However, the more LLCs you have, the more costs you’re going to incur on an annual basis to maintain them as well as the initial setup costs. The series LLC is designed to provide the same level of asset protection without this cost.
For example, if you had several real estate properties and you wanted to protect them, you would, most likely, create several LLCs and put your properties in each of these LLCs. With this type of plan, you’re ensuring that if anything happens at any of your individual properties and you are sued, you’ve minimized your risk of exposing your other properties to the greatest extent possible.
Watch now as Carl shares the benefits and risks associated with using series LLCs in your real estate investing strategy and how you can get started.
Resources mentioned in this video:
Tax and Asset Protection Workshop
Free 30-Minute Strategy Session
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