Updated almost 5 years ago on . Most recent reply
Holding LLC / Legal & Tax Advice Needed
Novice investor - currently have one SFR purchased by a multi-member LLC in GA. Under contract for a triplex in SC and considering setting up an in-state LLC or registering current LLC as a foreign LLC.
Wondering if it makes sense to create a holding company LLC in Delaware, Nevada or Wyoming? Our business plan is to purchase 30+ doors across the Southeast over the next couple of years. Would a holding company be better to hold the bank account for several operating LLCs?
Welcome advice and getting in touch with a lawyer or CPA that has experience in this area.
Most Popular Reply
Hey @Sondra Lovett - **I am not a CPA/Attorney and also a rookie investor** - there is a group online called Anderson Advisors that specialize in this type of entity structure information. Feel free to check them out - https://andersonadvisors.com/ - they run a ton of free stuff online and webinar-style for free (you can pay for more tailored to your needs style). I am not affiliated to them at all but their free stuff has helped me as I start my journey and want to make sure all the pieces are correct.
Anyway - yes. They encourage investors to hold a Wyoming or Nevada LLC as a holding company and then set up separate individual LLCs for each property in the state they are in. You'll need to set up individual bank accounts for each of the LLCs, but you have the holding company as the controlling/registered agent.