Company/LLC Name ideas

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Company/LLC Name ideas

Sean Delagrange
Rental Property Investor · Atlanta, GA · Member since 2020 · 16 posts · 20 votes

Hey Everyone,

Quick question I'd love some advice on. Just bought my first rental property and I'm going to form an LLC and move it over to that ownership. The goal is to purchase more properties over the years mainly as income/cash flow producing investments, with the occasional flip down the road as well.

My question is around the suffix before the "LLC" in the company name. I've seen posts on here about this, but I'm curious what the consensus favorites are (and if there are any that are not advisable or that raise red flags - that will be very helpful). I've seen some people say not to use "investments" or "properties" for fear of lenders not dishing out loans, but I've had really no problem so far and I've been up front that I'm purchasing as an investment property. Would an LLC change that?

Here’s what I’m choosing between, in no particular order. We’ll use XYZ as the placeholder before the suffix.

XYZ Properties, LLC

XYZ Capital, LLC

XYZ Real Estate, LLC

XYZ Homes, LLC

XYZ Investments, LLC

XYZ Holdings, LLC

XYZ Assets, LLC

XYZ Property Group, LLC

XYZ Equities, LLC

XYZ Ventures, LLC

What are your thoughts? I really think “Capital” is clean and sharp, but does it make sense here? I like the others too, but assuredly not every option will be available when I file so I’m just trying to narrow it down.

Thanks in advance!

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Matt Nico
Member since 2019 · 448 posts · 306 votes
5y
Originally posted by @Sean Delagrange:

Hey Everyone,

Quick question I'd love some advice on. Just bought my first rental property and I'm going to form an LLC and move it over to that ownership. The goal is to purchase more properties over the years mainly as income/cash flow producing investments, with the occasional flip down the road as well.

My question is around the suffix before the "LLC" in the company name. I've seen posts on here about this, but I'm curious what the consensus favorites are (and if there are any that are not advisable or that raise red flags - that will be very helpful). I've seen some people say not to use "investments" or "properties" for fear of lenders not dishing out loans, but I've had really no problem so far and I've been up front that I'm purchasing as an investment property. Would an LLC change that?

Here’s what I’m choosing between, in no particular order. We’ll use XYZ as the placeholder before the suffix.

XYZ Properties, LLC

XYZ Capital, LLC

XYZ Real Estate, LLC

XYZ Homes, LLC

XYZ Investments, LLC

XYZ Holdings, LLC

XYZ Assets, LLC

XYZ Property Group, LLC

XYZ Equities, LLC

XYZ Ventures, LLC

What are your thoughts? I really think “Capital” is clean and sharp, but does it make sense here? I like the others too, but assuredly not every option will be available when I file so I’m just trying to narrow it down.

Thanks in advance!

 Sean,

You do not need an LLC with 1 property. If you'd like to create it go for it, but I would absolutely NOT move the property into the LLC. It could trigger a due on sale clause. If you are worried about liability with the home being in your name, don't be (yet). When you are a small organization you usually don't have anything worth taking. Continue to put properties in your own name as this gives you the best interest rate and terms. As you grow I would look into an "Umbrella Policy" which actually protects you just as well if not better. Listen to the real estate rookie shows. They talk a good amount on this subject.

Also for your LLC name, here are thoughts:

1. If you are planning on going to be a full time real estate investor now, start telling people what you are doing and think of a good name. As an example, mine has "Estates" on the end. People love it.

2. If you do create one, I created a branded logo and named my LLC. I have T-shirts, Business cards, and my truck is a very specific color which everyone knows me by. To everyone who know me, I am "The guy who knows real estate"

Hope this helps,

Matt

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  • David M.
    Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    5y

    @Jason Mak

    Not sure about CA, but you could do a d/b/a... Otherwise, you'd have to form another LLC, and transfer everyhting over as if you were capitalizing it. But, you'd have to alk to an attorney about that... You must love those~$800 annual fees CA imposes...

    0Reply
  • Jason Mak
    Rental Property Investor · San Marino, CA · Member since 2011 · 398 posts · 144 votes
    5y
    Originally posted by @David M.:

    @Jason Mak

    Not sure about CA, but you could do a d/b/a... Otherwise, you'd have to form another LLC, and transfer everyhting over as if you were capitalizing it. But, you'd have to alk to an attorney about that... You must love those~$800 annual fees CA imposes...

    LOL - you got that right $800 bucks a year to be able to look my LLC up on the Secretary of State website....just love it....you are right, I've used DBAs in the past. Unfortunately I don't think I can simply transfer my assets to another LLC because of the 1031 exchange - I may have to pay the taxes if I liquidate the LLCs

    0Reply
  • Antoine Martel
    Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
    5y

    Hey Sean I really like the name of this - 

    XYZ Equities, LLC

    2Reply
  • Jonathan R McLaughlin
    Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    @Nick Rutkowski worst (real one) I ever heard of was "boat fund LLC". Very funny till you imagine someone getting angrier and angrier writing the rent check.

    1Reply
  • Jamison Remmers
    Rental Property Investor · Tustin, CA · Member since 2019 · 63 posts · 29 votes
    5y

    @Sean Delagrange

    Hi Sean, great question. I personally love the capital format as well. I went with investments for mine and I haven't seen any issues as far as that goes. The biggest thing I've run into is making sure the investment property is in a desirable area. My first was in Bartlesville, Oklahoma and nobody knew where that was so that gave me issues. Nobody even brought up the LLC format and they were really willing to work together.

    0Reply
  • Sean Delagrange
    OP
    Rental Property Investor · Atlanta, GA · Member since 2020 · 16 posts · 20 votes
    5y

    @Nick Shri this is interesting, thank you I’ll look Into this.

    Also thank you to everybody else who has responded to this post, I honestly did not realize it would trend like this, I appreciate everyone’s guidance and tips!

    0Reply
  • David Beckley
    Investor · Saint Louis, MO · Member since 2015 · 204 posts · 37 votes
    5y

    @Sean Delagrange I have two LLCs. My "active" LLC (for fix and flips and wholesale deals) is Vested Capital, LLC. My "passive" LLC (for my rentals) is Vested Portfolio LLC

    0Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    5y
    Originally posted by @Alex Sonnenberg:

    @Matt Nico I've been looking for a specific response like this for sometime from an investor. I've talked to CPAs and they are all about the protection of LLC. I've also wondered how you transition from personal to LLC with 2 years of history so a loan can be obtained. Perfect! Thank you!

     Alex,

    Yeah the LLC protection is great but an Umbrella Policy accomplishes the same thing. My advice is to just use your own name for a while first. Once you actually have equity in a handful of properties or something to lose, then go for the umbrella policy and start putting homes into your LLC.

    From what I have been told by financial people who know better than myself, LLC's need 2 years of tax returns to be able to really get loans and lines of credit, but some places give it to you after 1 year. I'm actually in that process now.

    Happy Housing,

    Matt

    0Reply
  • David M.
    Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    5y

    @Matt Nico

    To my understanding, if you are using the LLC as income for obtaining a a conforming residential loan it will need 2 years of tax history. That is standard. However, if you the LLC is going to take Title, then you will need a commercial loan. You need to talk to a commercial lender. Just like the vast majority of real estate agents are really residential agents, the vast majority of lenders are residential lenders. They don't/can't handle originating a loan to a legal entity.

    So, a LLC generally can give a mortgage with the owner/member providing a personal guarantee. That happens all the time, and to the best of my knowledge does not affect the corporate veil.

    Otherwise, I agree if you want business loans or lines of credit you will need to build up a credit and income history.

    0Reply
  • Dan V.
    Real Estate Consultant · Norfolk, VA · Member since 2017 · 345 posts · 201 votes
    5y

    @Sean Delagrange I see people naming the LLC by the street address (ie. 123 Abc St LLC), but they intend to put each property under separate LLC. Investments and properties are most common for real estate, I think. You can use DBA later once you decided to brand your company or came up with a better name.

    0Reply
  • Marla Miller Chong
    New to Real Estate · Spain · Member since 2020 · 6 posts · 1 vote
    5y

    @Matt Nico that was some good information, thank you for sharing. Just to get some clarification, I recently created an LLC with this idea in mind. I plan to purchase at least 3 properties in my own name before utilizing the LLC. In the meantime I was wondering how to go about establishing a credit history for my LLC. Did you open an account for your LLC and deposit the rental income to that account in order to establish a funding history for the LLC?

    -Marla

    0Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    5y
    Originally posted by @Marla Miller Chong:

    @Matt Nico that was some good information, thank you for sharing. Just to get some clarification, I recently created an LLC with this idea in mind. I plan to purchase at least 3 properties in my own name before utilizing the LLC. In the meantime I was wondering how to go about establishing a credit history for my LLC. Did you open an account for your LLC and deposit the rental income to that account in order to establish a funding history for the LLC?

    -Marla

     Hi Marla,

    Yes you have it exactly correct. I created the LLC after my 3rd property. I got an EIN (Employee ID number) and with that I was able to go to a bank and create a business checking/savings account. From there I got a credit card with a small-ish line of credit at first as my business was less than a week old. Use this card for everything business related and make sure you pay it off every month.

    The 3 homes I own under my personal name as well as what I own under my LLC are all fed to the business account. Every bit of rent, security deposit, and expenditure goes through the business account. Nothing ever goes to my personal account anymore. Also quick tip: open 2 checking account. 1 has to be used to store security deposits.

    Hope this helps.

    P.S. Where in Spain do you live? I have been a few times. The food is absolutely incredible throughout the entire country.

    0Reply
  • Marla Miller Chong
    New to Real Estate · Spain · Member since 2020 · 6 posts · 1 vote
    5y

    @Matt Nico Hi Matt, thanks for clarifying, I wanted to be on a good track to make as little mistakes as possible. I didn’t think about 2 checking for that purpose, so thanks for that idea.

    I’m living in Cadiz, Spain it’s a part of the Andalusian province. It’s beautiful here, with such a vibrant culture, it reminds me of where I grew up in Jamaica! The food is excellent and so fresh! I’ve been enjoying my time here in light of current events.

    -Marla

    0Reply
  • David M.
    Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    5y

    @Marla Miller Chong

    Just make sure that if you do go down that route that you consult with a qualified professional or two. You need to make sure you aren't commingling your funds, thus piercing the corporate veil of the LLC. While you may have created a credit/income history for the LLC, but you will have eliminated the limited liability protection.

    At a minimum, a LLC needs its own checking account. Only in very rare occassions can it do without. Rememer, you need to operate it as a separate entity. Good luck.

    0Reply
  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    5y

    Many people just do property address, LLC.

    0Reply
  • Justin Sullivan
    Real Estate Agent · Phoenix, AZ · Member since 2019 · 158 posts · 140 votes
    5y

    @Sean Delagrange

    They will only ask for mortgage due if you transfer the deed to an LLC without getting a mortgage in that same LLC. With most mortgages the deed holder needs to match the mortgage holder. Read your Mortgage to see if you deed is transferable or not. Also it's a risk but doesn't always mean they will

    Call it due. I wouldn’t risk

    It myself but I also do everything out of my LLC's and always have. Only thing in my personal name is the house I live in.

    0Reply
  • Justin Sullivan
    Real Estate Agent · Phoenix, AZ · Member since 2019 · 158 posts · 140 votes
    5y

    @Sean Delagrange

    I personally like equities Assest a and holdings. I think capital sounds like a lender. The others are pretty generic and basic. Property group sounds like management company. My company name is equities.

    Good luck

    0Reply
  • John Duston
    Accountant · Santa Barbara, CA · Member since 2016 · 213 posts · 66 votes
    5y

    Don't fret over it too much, you can always switch the name with a DBA (doing business as)

    0Reply
  • Marla Miller Chong
    New to Real Estate · Spain · Member since 2020 · 6 posts · 1 vote
    5y

    @David M.

    Thank you David. I will ensure that I touch base with other professionals along the way, to get a better understanding.

    -Marla

    0Reply
  • Daniel Johnson
    Property Manager · Member since 2021 · 59 posts · 21 votes
    4y

    @Sean Delagrange What did you end up going with?

    0Reply
  • Sean Delagrange
    OP
    Rental Property Investor · Atlanta, GA · Member since 2020 · 16 posts · 20 votes
    4y

    @Daniel Johnson LLC per property.

    0Reply
  • Jared Kotler
    Rental Property Investor · Philadelphia, PA · Member since 2017 · 13 posts · 8 votes
    3y

    @Sean Delagrange always name it the property address. Nothing else. Makes get confusing on an income statement. Name your holding company something cool. Mine is Marchon Holdings. But I have 56th Street Apartments 1135 S 55th Street LLC, 5459 Cedar Ave LLC and 35 others. Name it the property address. You'll be thankful you did.

    0Reply
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