St. Louis Real Estate LLC Lawyer
Why Is It Important To Create an LLC For Your Investment Properties in Missouri?
Investing in real estate can be a great source of income and a great vehicle to increase your net worth. Or it can be a complete disaster. Which one depends on the decisions you make. Holding your investment properties in your personal name(s) places your other personal assets at risk. One protection that is relatively easy and cost-effective is setting up a limited liability company (LLC) for your investment properties rather than holding them in your personal name. LLCs and operating agreements are discussed in greater detail on this website.
Real Estate Limited Liability Companies in St. Louis Real Estate
One limitation to holding your properties in an LLC is that you likely would not be able to purchase or refinance with a loan that would be sold on the traditional secondary market, i.e., Fannie Mae and Freddie Mac. Also, transferring your properties to an LLC may invalidate your title insurance and require changes to your hazard insurance policies. You don’t want to do this incorrectly. Our real estate attorneys in St. Louis can help you. Call us today at (314) 276-1318 or contact us online for a free consultation.