jlsegull (@jlsegull)

Short-Term Rental Mistakes to Avoid Another episode of the Mastering Business Basics podcast is now available. One of the things that people always ask me when they're thinking of buying some property, some rental property, is should they put it in an LLC? And the first thing I tell them is, "Absolutely, you have to put it into an LLC," just for liability reasons, because people are sue-happy nowadays. You've gotta protect yourself and your personal assets. But what a lot of people don't realize is it takes two LLCs to totally protect yourself. The first LLC is basically a holding LLC. You either have that LLC buy the property, or if you already own the property, you have to transfer it over to the LLC so they actually hold the title or the deed to the real estate. it doesn't have anything to do with handling the guest communications, bookings or daily operations, or nothing like that. All it does is hold the deed. You're isolating that part of it. Then you just need a second LLC that is the management part, and it actually operates the rental for you. Learn more... https://www.buzzsprout.com/2432913/episodes/19611380