Tuesday, August 9, 2011
Which is better: Land parcels in LLC or on my own name?
I bought two parcels of city LOT in Atlanta and plan to get a few more. I will fense them up and post "no trping" signs. I expect to hold them for quite a long time (possiblly 10 yrs or more) based on current market situation. The properties are under my name now but I am thinking to form an LLC for these properties. I know that LLC will give me better personal protection if people get in my property and hurt themselves. My question is: what are the pros and cons to use LLC to hold these land properties? and what is the tax disadvantage?
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