Michael E
New Contributor
Good Morning All
I currently have three entities (LLCs), licensed individually in my domicile state, Michigan: a real estate brokerage, property management and residential construction, all under another LLC.
My concern exists in the fact of our litigious society. While each of the four entities have separate EINs, Bank Accounts, and LLC documents, they all solely owned by me.
Hence, if I have an investor wants to sell a property I manage on their behalf, the real estate brokerage entity manages the sales process. Likewise when there is a renovation to be completed upon a property under management; the construction division assumes responsibility.
My business model is a “one stop shop” and has done well for the past years. Yet, I’m exposed and need mitigate risks.
What structure should offer a best protection as I expand.
Any and all thoughts Welcome
I currently have three entities (LLCs), licensed individually in my domicile state, Michigan: a real estate brokerage, property management and residential construction, all under another LLC.
My concern exists in the fact of our litigious society. While each of the four entities have separate EINs, Bank Accounts, and LLC documents, they all solely owned by me.
Hence, if I have an investor wants to sell a property I manage on their behalf, the real estate brokerage entity manages the sales process. Likewise when there is a renovation to be completed upon a property under management; the construction division assumes responsibility.
My business model is a “one stop shop” and has done well for the past years. Yet, I’m exposed and need mitigate risks.
What structure should offer a best protection as I expand.
Any and all thoughts Welcome
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