Anyone know about this? I opened up my LLC bank account today and the banker said something about an attorney friend could help me set up seperate LLC's within my LLC for every new property I acquire. Never heard of this. Why would I need too?
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LLC's
http://www.deangraziosi.com/node/927
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I would suggest seeking
I would suggest seeking competent professional advice for what you are trying to accomplish. If you have separate LLCs within one LLC and you get sued, you may subject all the properties to the liability. You may be able to accomplish the same thing with trusts, depending on what you want to accomplish...asset protection, taxes, liability exposure, etc. Best to talk to a professional. There is a tool for every job.