From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1508 topics, 14373 posts — Last Post 04/16/14, 10:44PM

BiggerPockets Exclusive PRO Area

117 topics, 838 posts — Last Post 04/16/14, 09:08PM

New Member Introductions

10858 topics, 85321 posts — Last Post 04/17/14, 12:24AM

Real Estate Success Stories

392 topics, 6105 posts — Last Post 04/16/14, 09:24PM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5908 topics, 46603 posts — Last Post 04/16/14, 10:05PM

Renters

641 topics, 5799 posts — Last Post 04/16/14, 10:18PM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1608 posts — Last Post 04/16/14, 04:51PM

Do it Yourself

654 topics, 6260 posts — Last Post 04/16/14, 10:43PM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3658 topics, 29327 posts — Last Post 04/16/14, 09:30PM

Real Estate Guru, Book & Course Reviews and Discussions

1129 topics, 11533 posts — Last Post 04/16/14, 08:08PM

Ask About A Real Estate Company

736 topics, 7287 posts — Last Post 04/16/14, 08:11PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5587 topics, 43658 posts — Last Post 04/16/14, 11:17PM

Rehabbing and House Flipping

3324 topics, 30905 posts — Last Post 04/17/14, 12:24AM

Real Estate Development & New Home Construction

551 topics, 4678 posts — Last Post 04/14/14, 01:02AM

Innovative Strategies

699 topics, 5992 posts — Last Post 04/16/14, 04:12PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

864 topics, 6656 posts — Last Post 04/16/14, 11:06PM

Rent to Own a.k.a. Lease Purchase, Lease Options

690 topics, 4864 posts — Last Post 04/16/14, 06:15PM

1031 Exchanges

143 topics, 1052 posts — Last Post 04/16/14, 05:39PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11281 posts — Last Post 04/15/14, 03:20AM

HUD, VA, and Tax Sales

414 topics, 3087 posts — Last Post 04/16/14, 06:02PM

REOs

1212 topics, 10563 posts — Last Post 04/15/14, 01:08PM

Short Sales

1533 topics, 13117 posts — Last Post 04/15/14, 07:10PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7188 topics, 70546 posts — Last Post 04/17/14, 12:17AM

Mobile Homes & Mobile Home Park Investing

636 topics, 5127 posts — Last Post 04/15/14, 09:59PM

Investor Basics

Starting Out

7679 topics, 60298 posts — Last Post 04/16/14, 10:09PM

Investor Psychology

430 topics, 6092 posts — Last Post 04/14/14, 06:53PM

General Real Estate Investing

4711 topics, 37151 posts — Last Post 04/16/14, 09:34PM

Real Estate Investor Marketing

1728 topics, 14076 posts — Last Post 04/16/14, 05:33PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1408 topics, 8977 posts — Last Post 04/16/14, 09:03PM

Multi-Family and Apartment Investing

1102 topics, 9166 posts — Last Post 04/16/14, 11:52PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

638 topics, 4883 posts — Last Post 04/15/14, 01:41PM

Business Basics

Goals, Business Plans & Entities

828 topics, 7527 posts — Last Post 04/16/14, 08:32PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2781 topics, 19979 posts — Last Post 04/16/14, 06:35PM

Property Insurance

309 topics, 2041 posts — Last Post 04/16/14, 02:16PM

Personal Finance Discussion

328 topics, 2714 posts — Last Post 04/16/14, 08:53PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2825 topics, 19666 posts — Last Post 04/16/14, 09:22PM

Creative Real Estate Financing

1207 topics, 8759 posts — Last Post 04/16/14, 03:55PM

Crowdfunding Real Estate

35 topics, 455 posts — Last Post 04/14/14, 02:14PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1205 topics, 7950 posts — Last Post 04/16/14, 08:10PM

Bankers, Lenders, and Mortgage Brokers

440 topics, 1917 posts — Last Post 04/15/14, 07:37AM

Contractors

263 topics, 1663 posts — Last Post 04/16/14, 05:49PM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1983 topics, 11575 posts — Last Post 04/16/14, 10:16PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 426 posts — Last Post 04/16/14, 08:34AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

14985 topics, 53863 posts — Last Post 04/17/14, 12:07AM

Real Estate Events and Happenings

162 topics, 2451 posts — Last Post 04/16/14, 10:37PM

Off-Topic

Off Topic

Off-Topic

2902 topics, 32399 posts — Last Post 04/16/14, 03:07PM

Housing News & Real Estate Market

914 topics, 8348 posts — Last Post 04/16/14, 09:07PM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

LLC Names

19 posts by 13 users

Signup

· Levelland, TX


I am curious to know how you guys name all of your LLC's if you have more then one?

I have formed one LLC and I need to form more for my rental properties, but not sure how to name them.

I need to advertise for the properties or make business cards, I am just confused on how this would work. 10 LLC's and you need to be able to have signs, cards, contracts, Ect. for each one.

Any thoughts would be great

Thanks

Rick



· Los Angeles, California


Hi Rick,

I work for a corp/llc document filing service and have noticed that our real estate investor clients who form multiple LLCs often name each LLC with the address of the specific property, e.g., "123 Whatever Street 15 LLC".

Good luck with your investments.

Sarah
Sr. Business Analyst, Intuit MyCorporation



Real Estate Investor · Owings Mills, Alabama


I named one LLC after my college band, two after the name(s) of the streets where I was buying property, and 1 by combining local landmarks/neighborhood names.
Of course, I wasn't creating these LLCs to put on business cards or otherwise market with, but only to hold legal ownership of the properties.



· Levelland, TX


Thanks for the replies.

I think I got it figured out. I can name my LLC's any name that I want, and just DBA with my county to use for the name on the business cards and advertising.

I wasnt sure at first, but I do believe this is the way to do it.

Have a great one

Rick

Originally posted by Gregory Davis:
I named one LLC after my college band, two after the name(s) of the streets where I was buying property, and 1 by combining local landmarks/neighborhood names.
Of course, I wasn't creating these LLCs to put on business cards or otherwise market with, but only to hold legal ownership of the properties.




Real Estate Investor · North Carolina


I named my LLCs:

RollingInDough, LLC
HighDollarRealEstateHoldings, LLC
ComeGetMeI'mRich, LLC

For some reason I keep getting sued.....



· Levelland, TX


LMAO, yeah that could get you in trouble.

Rick

Originally posted by Nc Mark:
I named my LLCs:

RollingInDough, LLC
HighDollarRealEstateHoldings, LLC
ComeGetMeI'mRich, LLC

For some reason I keep getting sued.....





This post has been hidden.


Real Estate Attorney · Seattle, Washington


Rick,

I would use one LLC or even a corporation as the manager of the other LLCs that hold the rentals. The LLCs that are formed for the rental properties would be structured as Manager Managed LLCs.

All of your contracts, marketing, business cards, etc. would be in the name of the management LLC/Corp. The names of the LLCs that actually hold the properties will then become irrelevant since the real business activities will occur from the management company. I once had a client walk through a parking lot and name his 15 LLCs after the brands of cars in the lot.



Real Estate Investor · NYC, NY


Hello, I am a newbee who is currently waiting for a bank to approve my offer on a short sale for my first investment property. Should I have formed my LLC before the offer, or present the LLC during the contract signing(If it gets that far)?



· Levelland, TX


I am just getting more and more confused on the whole idea of an LLC. I have spoken to my attorney and CPA, both give conflicting information.

All I want to do is put rental property in LLC's, and the only thing I am confused on is how to advertise with multiple LLC's.

Example - If I have 10 LLC's with x amount of properties in each one. If I have more then one unit that I need to advertise for and they are in seperate LLC's, how would you advertise, if you dont want to use the LLC's name for each property that you are advertising for.

I thought about just using a DBA in my county and just using that name for all the LLC's, but then that brings up another issue. What if your driving down the road and you hit someone, and all they see is Dos*** Home Buyers and Rentals on the truck, then they find out that it is used for 10 LLC's, to me this leaves the door wide open for all the LLC's to end up in court.

Now another thought I had was to put properties in LLC's and then form LLC and use it for Dos*** Home Buyers and Rentals, this would only be used as a property manager and then I can contract out the labor from my other LLC's to Dos*** Home Buyers and Rentals.

If anyone from Texas has an idea on how it works in this state I would appreciate any help.

Basically I am just trying to figure out how to have business cards, signs, news paper ads, ect. with one name that can be used for all LLC's?

Thanks

Rick



· Levelland, TX


Greg,

Thanks for the information, I did think about this after you posted. I do see what your saying and that is a good way of doing it, I will talk to my CPA about doing it this way.

Thanks

Rick

Originally posted by Greg Boots:
Rick,

I would use one LLC or even a corporation as the manager of the other LLCs that hold the rentals. The LLCs that are formed for the rental properties would be structured as Manager Managed LLCs.

All of your contracts, marketing, business cards, etc. would be in the name of the management LLC/Corp. The names of the LLCs that actually hold the properties will then become irrelevant since the real business activities will occur from the management company. I once had a client walk through a parking lot and name his 15 LLCs after the brands of cars in the lot.





The way our firm has done it is as follows:

- each principal has a SMLLC or LP
- the managing entity is formed b/t all the principals
- Single asset LLCs are created for each property / transaction with the managing entity as the General Partner




Some states have a LLC structure named "Series LLC" by which you can hold LLCs as subsidiaries of a parent LLC. All individual LLCs continue have separate liability as long as you keep financials very clean. The benefit is that you can maintain limited liability, staying under a single name, lower fees, and you file your taxes in a single tax return. My tenants write checks out to the parent company and I just have to make sure to deposit them in the correct bank accounts for each LLC series.

I am not sure if they have this in TX, but it may be worth checking into. Actually the Series LLC page on Wikipedia is not bad.

In Illinois, for example, I have a company that is the LLC parent named Johnson Real Estate Company, LLC (not a real company)... each property I hold is held in a subsidiary Series, for example, Johnson Real Estate Company, LLC, Series Fullerton or whatever series name you like. The price of a parent LLC is $750, and after that it is $50 for each series. Compared to $500 for a single regular LLC. I believe I can have unlimited number of series, and they do not have to be in the same field. So if I wanted to start a real estate brokerage (which is what I would like to do), for example, I could keep the same name and just add a series. Cheers ~



Homeowner · Houston, Texas


Hello all, I'm new here and this is my first post. Lots of great information here.

I spoke to a tax specialist yesterday about this subject. She instructed my wife and I to create an LLC that would be used for advertising, business cards, and all that stuff. She then instructed us to create an LP for each property that we aquire naming the LP's the address of the property they will be for. The Partners of the LP would be my Wife and I holding 99% ownership, and the LLC holding 1% ownership. I thought this would be a tax nightmare, but she explained it that each LP would generate a K1 for my wife and I, as well as the LLC, then the LLC would also generate a K1. By doing this, I would limit the liability of each property, and be able to use one business name for advertising purposes.

I'd like to hear some of your opinions on this strategy. Is it overkill? Is it realistic?



Real Estate Investor · Ohio


Rick,

For the rental property business, I recommend being as vague as possible. I recommend naming the LLCs something very generic and putting several properties in each LLC.

As for advertising, once again I would be generic. A newspaper ad doesn't need a company name with it. It can just say something like: 3 bedroom houses for rent; we love pets; call XXX-XXXX.

Your business card can be the same. It could say:
Property for Rent,
Rich Doshier, Manager
PO Box 123
Levelland, TX 45678
Phone: xxx-xxxx

I try to keep everything simple!

If you want a website, you could just name it Levelland Rentals.com or something like that - again, not complicated.

Mike



Real Estate Investor · Ohio


Tony,

Unless you're planning on having a very small portfolio, I would not create a separate LP for each property. To be a legal entity that will stand up to legal scrutiny, each entity should have its own checkbook, its own accounting, its own tax return, etc. The fact that the profit or loss goes to your personal return does not reduce the complexity. How would you like to have 50 checkbooks to keep? 50 LPs to set up? 50 tax returns to prepare (or pay to be prepared)?

Mike



Homeowner · Houston, Texas


Originally posted by MikeOH:
Tony,

Unless you're planning on having a very small portfolio, I would not create a separate LP for each property. To be a legal entity that will stand up to legal scrutiny, each entity should have its own checkbook, its own accounting, its own tax return, etc. The fact that the profit or loss goes to your personal return does not reduce the complexity. How would you like to have 50 checkbooks to keep? 50 LPs to set up? 50 tax returns to prepare (or pay to be prepared)?

Mike

I understand that each LP would have it's own checkbook, and whatnot. I don't plan on having 50 or more properties at this time (although it could grow to that amount at some point). I was thinking more along the lines of the 15 - 30 range, however I see your point, and maybe I should take some advice from both and have multiple properties in each LP, but not necessarily one LP per property. I suppose I could maybe separate them by subdivision, or zip code. That way, if anyone was to take legal action against one of my LP's, they wouldn't be able to sue me for everything I have.

Any other thoughts on this? How do most people seperate their investment properties and keep their investment protected?



Real Estate Consultant · Irvine, California


Hello Rick,

I was watching the Food Network the other day and found the Pringle got its name by its founders opening a phone book and reviewing the different street names. You should have tons of names at your disposal through this method.

Best of luck!



· Ellington, Connecticut


I will be starting an LLC soon. What do you think of this one?

Slumlord properties

:)





Sign up