This is a bonus episode of the rental income podcast. And now, Dan Lay. If you're going to own rental properties, it's a good idea to own them in an LLC. You don't have to. You can own rental properties personally. But the risk you're taking when you own rentals personally is that if something goes wrong and you get sued,

your other personal assets could be at risk, where if you own that property in an LLC,

the LLC is going to get sued and only the assets of the LLC are at risk.

So you have that extra layer of protection. Now, there's multiple

types of LLCs. And on this bonus episode, we're going to talk about the four big types of LLCs.

Some of them are great for owning rental properties. And some of them are really bad and if you use the wrong

type of LLC for your ownership, it can actually end up costing you a lot of money.

Joining us on the show today to go over all of this and explain this to us is our good friend

and our expert on all things taxes and LLCs. It's a cease from

investor-friendly CPA. So let's take a really quick break. We'll come right back and we will

talk LLCs. I want to let you know about a really easy way to track your rental income and

expenses. It's an accounting software custom made for

rental property investors. It takes just seconds to enter an expense or to record that you collected

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are done. They're currently offering a free 30-day trial.

There's no credit card required, so if you don't like it, there's nothing to cancel.

You can learn more and sign up today at RentalTrial.com.

That's Rental Trial, T-R-I-A-L, Rental Trial.com.

Rental Income Podcast. There's four main types ofA-L, Rental Trial.com. Rental Income Podcast.

There's four main types of LLCs, and, you know, this can get pretty confusing, and you always have a very good way of breaking this down to a simple way for us to understand.

So let's kind of walk through the four main types of LLCs to see

if people can figure out what's best for them. So the first one is the single member LLC.

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