I have been reading thought other blogs but feel my scenario is slightly different.
I am from South Africa and moving to DFW area at the end on 2015. I am going to be investing in real estate for long-term positions (mostly!) rather than flipping. I do have enough cash to purchase my first couple properties cash ($90k to $130k properties). As I am new to the USA I have basically no credit history or score. I am hoping that I will be able to use the properties I own out-right to obtain mortgages for further properties (within a period of time, 6-24 months) and grow the portfolio from there. How easy/difficult will this be? Which entity would it be easiest to do it in, bearing in mind no credit history?
There is a possibility that I may have a "angel investor" who may not be a US citizen but would invest cash early on and therefore increase equity in the business.
My question is which entity would be the "cleanest" for me to establish the business? Am I not opposed to Sole Prop however this may complicate the arrangement with the Investor? The ongoing costs of running an LLC are not a major concern for me if it provides a benefit for my structure. Not sure I want to go LPA supply due to fact that there may be non-US investment, unless there is a benefit?
Last, it is highly probable that I will be making use of a Property Management Company to management my the properties, just from a Liability point of view.
Any assistance or feedback would be gladly appreciated
Thank you kindly
Welcome, Carl! I'm not an attorney, nor do I give legal advice, but you may want to investigate a TX Series LLC. You only have to register the parent, and each series can have diff. IRS tax treatments (i.e. C Corp., S Corp, LLP, MLP, etc.), equity structures, etc.
I have a series LLC w/ a marketing company classed as a C Corp, a rehab company classed as an S Corp, and I'll add series for each LT holding.
Thank you kindly. I was not aware of a Series LLC and after doing a little research, feel that it may fit my purpose very well! I will continue investigating and let you know if I follow through.
Carl, if you need a local attorney to get your entities set up, let me know....I have a good one I've been happy with.
Thank you that would be great and most appreciated as currently I am only exploring online options and would like to building a relationship with my professionals going forward
Mails to your soignier address keep bouncing back?
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