What kind of LLC do most owners have for their multiple properties in Washington DC?
Hello
I am just new to this forum since yesterday. I was pretty excited to have found this site and I believe all information shared in this forum is truly beneficial for all real estate investors.
I just wanted to see if any RE investors from Washington DC can help answer my question. Do you recommend setting up a separate a LLC for each property or do you use a series LLC (the parent company with each series for each property)?
From my understanding, Washington DC is not one of the states that offer series LLC. However, I was told I could use Series LLC from one of the states (say Delaware) that offer them for my future properties in DC. But there's one issue that I think was brought up somewhere in the forum that having Series LLC from other state would not let me register with the DC? Can someone elaborate on that? How can that issue be addressed?
Also, I heard from my friend that the best way to do this is to acquire LLCs thru Wyoming as they are often RE business friendly and very cheap compared to other states. Again, the concern is that with LLCs from other state, how am I able to work it out through DC that way? Will they accept my LLCs from Wyoming for my DC properties?
Any insights or advices based on your knowledge and experience would be greatly appreciated. I am new to all of this and hope to be one of you seasoned investors.
Kindly regards,
Arthur