My question involves real estate located in the State of: NJ
1) I am thinking of investing in rental property. If I buy the property and get a mortgage in my name, but have an LLC collect all the rent and pay for all operations on the property in a separate bank account, can the tennant still go after my personal assets in a lawsuit involving the property?
2) What asset protection do i have in this scenario and what would i gain if instead the LLC borrowed the money for the property with a commercial loan?
1) I am thinking of investing in rental property. If I buy the property and get a mortgage in my name, but have an LLC collect all the rent and pay for all operations on the property in a separate bank account, can the tennant still go after my personal assets in a lawsuit involving the property?
2) What asset protection do i have in this scenario and what would i gain if instead the LLC borrowed the money for the property with a commercial loan?
Recording Title Asset Protection and Rental Property
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