Updated over 11 years ago on . Most recent reply
Looking to start investing in real estate.
Hello all! I'm new to this site and am very excited about making some connections and learning from others who have had success.
Myself and a few others are looking to start buying rental properties in our area to fix up and then rent out. What is the best structure to set up in order to purchase different properties? I've read a lot and am assuming that for each property, we should form a different LLC to limit our liability. My other questions is a bit more tricky to explain.
Can a LLC be comprised of not only individual members, but also another LLC? Basically, my brother and I have formed an LLC. He works for a financial institution across the country and provides some of the financial support. We would be partnering with another individual who would be doing the work on the property. So can our new LLC that is formed to purchase the property, be owned by this other individual and also by the LLC that my brother and I have? Sorry if that's a bit confusing. Thanks for any help!