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Old 02-17-2009, 12:46 AM
 
Location: switzerland
7 posts, read 12,707 times
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I have a home in Evergreen, CO that I am currently renting through a property management company. My dad said I should put it into an LLC to protect my personal assets and for tax purposes. How do I go about this....and how much money roughly, are we talking here? Is a lawyer necessary? Thanks for any educated insight!
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Old 02-17-2009, 08:09 AM
 
Location: Western, Colorado
1,560 posts, read 1,778,505 times
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Speak to an attorney. If you have things you would rather not lose in a lawsuit, it'd be prudent to.

IM if you end up looking for an attorney; my wife is a practicing attorney in 4 states.
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Old 03-03-2010, 12:16 AM
 
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If you already know you definitely want it in your LLC, go back to the title company that handlked your purchase of the home. They will typically assist you (or at least they do in AZ, where I have worked for many title companies) for the cost of the recording fee of the new deed.
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Old 03-03-2010, 11:50 AM
 
Location: Sunnyvale, CA
3,892 posts, read 5,211,465 times
Reputation: 1500
Quote:
Originally Posted by In2it View Post
I have a home in Evergreen, CO that I am currently renting through a property management company. My dad said I should put it into an LLC to protect my personal assets and for tax purposes. How do I go about this....and how much money roughly, are we talking here? Is a lawyer necessary? Thanks for any educated insight!
No lawyer necessary. all that's needed is maybe $50 to file the paperwork with the government. Just do a little internet research, find a do-it-yourself how-to guide.

I did one of these a few years back for an IT consulting gig, but I don't remember the details. I do remember it was a no-brainer.
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