Updated almost 2 years ago on . Most recent reply
LLC Register agent & VA
For your LLC's, Who do you use for your Register agents & Virtual Address's? Any recommendations on companies that provide these services?
Bonus Question: Is there a certain amount of asset that you keep in multiple LLC's or do you have them all under one with an umbrella policy?
Most Popular Reply
Hi Marcus,
I have been doing this process recently and might be able to provide some insight, but I am not an expert in this.
There are many companies out there that can be your 'One stop shop" with LLCs, virtual office/address, and registered agents. I had a call with NCH (Nevada Corporate Headquarters) and they walked me through their whole process and how much it would cost for them to set everything up for you, to include the address and registered agent. I've also learned A TON from Anderson Business Advisors. Clint Coons from Anderson has great stuff that he puts out on youtube and social media.
Anderson Advisors recommended doing an umbrella LLC structure if you're setting up multiple properties, especially in different states. I'll provide an example.
More asset protection: You are the owner of an LLC in Wyoming (or maybe Nevada) that owns other LLCs for properties. Lets say you own 1 property in California, 2 properties in North Carolina and 2 properties in Florida. You would have 1 LLC in California that owns that property, 2 different LLCs in North Carolina owning those 2 different properties, and 2 LLCs in Florida owning those properties. The Wyoming LLC would be the owner of all those LLCs.
Good, but not as much protection: Same exact situation, but only have LLC for both properties in North Carolina and 1 LLC in Florida for both properties.
Some Protection: Having 1 LLC for all properties (if they allow foreign LLCs to own properties in other states). Some states might make you have an LLC in that state for a property.
Least protection: No LLCs
Another option within those options is to use REPT (Real estate Privacy Trusts) under the LLCs for different properties. Ex: 1 LLC in Florida but 2 REPTs for both properties.
hope this helps!
Cliff
I have been doing this process recently and might be able to provide some insight, but I am not an expert in this.
There are many companies out there that can be your 'One stop shop" with LLCs, virtual office/address, and registered agents. I had a call with NCH (Nevada Corporate Headquarters) and they walked me through their whole process and how much it would cost for them to set everything up for you, to include the address and registered agent. I've also learned A TON from Anderson Business Advisors. Clint Coons from Anderson has great stuff that he puts out on youtube and social media.
Anderson Advisors recommended doing an umbrella LLC structure if you're setting up multiple properties, especially in different states. I'll provide an example.
More asset protection: You are the owner of an LLC in Wyoming (or maybe Nevada) that owns other LLCs for properties. Lets say you own 1 property in California, 2 properties in North Carolina and 2 properties in Florida. You would have 1 LLC in California that owns that property, 2 different LLCs in North Carolina owning those 2 different properties, and 2 LLCs in Florida owning those properties. The Wyoming LLC would be the owner of all those LLCs.
Good, but not as much protection: Same exact situation, but only have LLC for both properties in North Carolina and 1 LLC in Florida for both properties.
Some Protection: Having 1 LLC for all properties (if they allow foreign LLCs to own properties in other states). Some states might make you have an LLC in that state for a property.
Least protection: No LLCs
Another option within those options is to use REPT (Real estate Privacy Trusts) under the LLCs for different properties. Ex: 1 LLC in Florida but 2 REPTs for both properties.
hope this helps!
Cliff