Business entities are very useful when you want to purchase real estate. If there is more than one person involved in making a purchase, I would tell you almost every single time the answer to that question is yes because it gives you more flexibility in structuring how the financial benefits of that property are going to be allocated to the owners, how further investment is going to work, and determining the maintenance of the property and those types of things. Also, a business entity can give you some distinct tax advantages, again usually if there is more than 1 person involved. Finally, a business entity can give you liability protection so that if something happens and you don’t have insurance for it, the most you could lose is just the value of that asset.
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