Should You Set Up an LLC For Your Real Estate Investment Properties?

First of all, what is an LLC and why do people set up LLC or Limited Liability Companies to hold their real estate investment properties?
I got this question from a subscriber, Jamarl Minor and thought I'd do a quick video for all of the folks out there thinking about getting into real estate or business.

I referenced a couple of recent videos in this clip and the links are below.

How to Set Up an LLC for Business:
https://www.youtube.com/watch?v=XWlNyoYBQC...

Investing in Real Estate Overseas - Medellin Colombia:
https://www.youtube.com/watch?v=LoPE1bbm3o...