separation of LLC's?
Posted 12 July 2011 - 01:51 PM
Hope everyone is having a great summer!
Quick question for any resident legal experts:
I have an LLC for CA's. I started it as a general entity for investing 2 years ago but mainly use it for CA's.
If I wanted to buy and hold property would it cause a problem using this entity or should I have one for CA's/wholesaling, and one for buy and holds or does it really matter? I have read both sides of this argument and just wanted to see if anyone had a great answer from an attorney (I am in OH BTW) or other expert, etc.
Thanks and take care everyone!
Posted 14 July 2011 - 08:58 AM
Posted 14 July 2011 - 09:09 AM
Just a kid living the dream
Posted 14 July 2011 - 10:24 AM
That's my understanding, also, but keep in mind I flunked geometry in high school. . .twice.
I am not a legal expert; my understanding is that an LLC protects your personal assets, so if someone goes after the LLC, everything in that specific LLC is up for grabs.
Posted 20 July 2011 - 11:34 PM
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