Form an LLC

If you are going to own rental properties, we strongly recommend that you consider setting up some type of asset protection strategy like an LLC. Of course, consult a trusted adviser first, before making any decision as important as the creation of a legal entity.

There are really three methods of forming an LLC:

1. Self-service: You can do it on your own by filling out the application directly with the state (which we don’t recommend unless you are experienced doing so and have gone through the process before;
2. You can hire an attorney, which we recommend if you are unfamiliar with how an LLC may benefit your as a rental property owner, or;
3. You can use an online filing company:

•  EZ Online Filing can help you form an form an LLC quickly and easily… and very inexpensively. They are there to guide you through the process, provide you with the necessary documents, and submit your LLC filing. According to their website, you can “File a Limited Liability Company or complete a Business Incorporation filing in as little as ten minutes!”
• One of the most well-know companies that can help you form an LLC is LegalZoom.com. According to LegalZoom’s website, “no one files more LLCs online… documents are typically sent for filing within two business days and they offer lifetime customer support and 100% satisfaction guaranteed.