A short YouTube video (Nick Perry) giving real-estate investor advice: do not buy property in your personal name because personal assets can be seized if someone is injured and sues. The speaker defines an LLC (Limited Liability Company) as a way to limit liabilities to the company and recommends forming one LLC per property to isolate risk.
Limited Liability Company
Never, ever buy a piece of property in your personal name because you're putting your future under unnecessary risk. See, if a tenant gets hurt, or God forbid, even killed on your property and they decide to sue you, they can take all of your personal assets. This is because the property is in your name, so you take all the responsibility associated with that property. But that won't happen because you follow Nick Perry, who is about to show you how to protect yourself from this. It's called an llc, which stands for Limited Liability Company. It limits potential liabilities to a single company. So what you're going to do is get one LLC per property that you own so that you control all of them, but aren't held liable for anything that may potentially occur in them. So next time you go property hunting, remember to.
