An Attorney Not Using LLC(s)?
It seems that with RE all one hears is "put it into an LLC". I know an attorney who is a fairly active RE investor. He's not a friend, but an acquaintance. A friend had commented to me recently that this attorney does NOT have any of his properties in an LLC. I checked public records and there they are, all listed as owned by John Doe and wife for any ambulance chaser to see. He has 24 single family dwellings. At a party last weekend after several adult beverages I politely asked this attorney why he didn't have his properties in an LLC? He just grinned and said, that's business and we can discuss it next week in my office for a fee. I might just pay for an hour of his time because this guy does very well in RE and with his practice. Anyone else ever heard of this?
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