Your Finish Rich Plan - A Personal Finance Blog
Where we put the emphasis on the personal in personal finance
Why You Should Consider Forming an LLC for Real Estate Investing
Sunday, April 27th, 2008In my “Why I Still Love Real Estate Investing: Being a Landlord” post, I mentioned that one of the drawbacks of this investment opportunity was that as the property owner, you’re liable for the safety of the tenants and/or visitors. You will be held responsible if something happens to them due to your negligence. Even with adequate insurance coverage, you as the property owner could be exposed to legal judgments resulting from tenant slip and falls or visitor injuries to environmental contamination. Even worse, landlords have been successfully sued by victims of crimes–such as robberies, rape, and even murder–that occurred on their property on the theory that the landlord provided inadequate security. Continue reading this article...
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